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Old 11th April 2003
BevvyB's Avatar

this isn't gear but...Apple to buy Universal Music??

Several readers report the following links: LaTimes and Spiegel Online indicating the same rumor -- that Apple is in talks with Vivendi Universal to buy Universal Music Group ("the world's largest record company"). From the LATimes:

The discussions, a closely held secret for several months, could founder over unresolved issues. Apple hasn't made a formal bid but may offer $5 billion to $6 billion for the music company before Vivendi's April 29 board meeting, according to the sources

The implications of which would be remarkable. The LATimes also notes Apple's rumored plans to offer music distribution online:

Defying conventional wisdom, Jobs apparently is betting that music is finally on the verge of becoming a profitable presence on the Internet. Apple has been quietly testing a service that some music business insiders believe could pave the way for widespread online distribution of songs.