COMPANIES: Postscript Haribo to the rescue of EU budget talks: Making sweet music with merger deals
(Observer (UK) Via Acquire Media NewsEdge) You wait an age for a technology and media deal, and then a load of them come along at once.
Last week Parlophone, the British record label behind Coldplay, Blur and Kylie Minogue, announced that it is to become part of Warner Music in a deal worth an estimated pounds 487m. This came on top of plans for two debt-backed mega-deals. Computer maker Dell (remember them ) and cable TV group Virgin Media both said they were being bought out in deals each worth more than $20bn (pounds 12.8bn).
In Dell's case the deal on the table involves the company being bought for $24.4bn by a consortium comprising the company's founder, Michael Dell, software giant Microsoft and private equity group Silver Lake.
Meanwhile, Virgin Media is being scooped up by John Malone's Liberty Global, which has about 4.9m cable TV customers. Virgin's old losses mean that Malone's takeover will create a $28bn company, headquartered in Britain, that won't have to pay any UK tax for the foreseeable future.
But then who does, these days
Parlophone: being swallowed by Warner.
(c) 2013 Guardian Newspapers Limited.
[ Back To Technology News's Homepage ]