Word is Vivendi Universal has confirmed the Universal Music Group is not up for sale. This confirms comments by Vivendi boss Jean Rene Fourtou earlier this year when he said the group's record labels – which include Mercury, Island and Polydor in the UK – would not be sold. Those comments were called into doubt when Vivendi indicated it was looking to move out of the US completely, and a number of the groups bidding to buy the group's other entertainment businesses included the record labels in their bids. But at a meeting of the Vivendi board yesterday it was confirmed the music companies would not be sold off and bidders were asked to revamp their proposals accordingly.
At the same meeting a bid headed by Marvin Davis was knocked off the list of prospective bidders, though it's not known if Davis dropped out after hearing about the record companies, or whether Vivendi turned down his offer. That leaves bids from Liberty Media, GE's NBC, MGM, Viacom and an investor group led by Edgar Bronfman Jr to be considered.