Apple To Buy Universal Music Group?

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Date: Friday, April 11th, 2003, 09:09
Category: Archive

This is big news that is hitting the major news markets…

Apple is reportedly vying to buy Universal Music Group according to the Los Angeles Times for Friday, April 11th:


This is big news that is hitting the major news markets…

Apple is reportedly vying to buy Universal Music Group according to the Los Angeles Times for Friday, April 11th:

“In a pairing that would alter the architecture of the music business, Apple Computer Inc. is in talks with Vivendi Universal to buy Universal Music Group, the world’s largest record company, for as much as $6 billion, sources said.

Such a seemingly unlikely combination would instantly make technology guru Steve Jobs, Apple’s co-founder and chief executive, the most powerful player in the record industry.

Universal, which reaps about $6 billion in sales annually from artists such as 50 Cent, Shania Twain, U2 and Luciano Pavarotti, would be controlled by a maverick who revolutionized the computer market and coined the mantra “rip, mix, burn,” which many in the music business read as an invitation to electronic piracy.”

All I can say is that if Jobs pulls this off it will be an amazing coup. L.A. Times says that there are still quite a few details to work out, including competition from other buyers, but if Apple pulls this off, along with debuting the new downloadable music service, this will truly be a remarkable precedent for Apple Computer. Add to that the new dockable iPod for downloads and Apple is surely set to revolutionize digital music. Let’s hope that this rumor proves not only true, but actually occurs!

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