US music industry titles Billboard and SoundScan may soon have new owners, or at least that's what the New York Post reckons. They've reported that a Merrill Lynch analyst has called on shareholders of VNU, the Dutch media company who own the industry magazines, to support a takeover bid by a private equity group, which includes Warner Music backers Thomas H Lee Partners. The Post reports that analyst Toby Reeks reckons there's a 90% chance enough shareholders will sell in order to give the bidders ownership, even though their offer is slightly below VNU's actual value.
May 12, 2006
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1 min read
Takeover bid for Billboard owners
A Merrill Lynch analyst has urged VNU shareholders to back a private equity takeover bid, including Thomas H Lee Partners, for the owners of Billboard and SoundScan.