Universal Music is a hit

A ROCKSTAR’S WELCOME greeted Universal Music Group when it launched on Amsterdam’s Euronext exchange on September 21st in Europe’s largest listing of the year. Giddy investors all but threw their knickers at the newly public company, whose share price finished the day up by 36%, valuing the world’s biggest record label at €45bn ($53bn).

Listen to this story

Your browser does not support the <audio> element.

Not long ago Universal looked like a flop. In 2013, as digital piracy ravaged the music industry, SoftBank, a Japanese group, bid €7bn for the label. Vivendi, Universal’s French owner, was thought mad for turning down the offer. In fact the decision

→ Continue reading at The Economist

Similar Articles

Advertisment

Most Popular

My Search for Gamblers at the George Washington Bridge

A reporter heard New Yorkers were crossing the Hudson River to New Jersey to bet on football and soccer games. So he did what...

Reggie Jackson, a Yankees Legend, Helps Astros Through October

Reggie Jackson, the Hall of Fame slugger and longtime Yankees adviser, has a new role with the Astros, helping reassure the team as postseason...

Mythic Quest has been renewed for a third and fourth season on Apple TV Plus

Mythic Quest has been renewed for a third and fourth season on Apple TV Plus, Apple announced today, marking the biggest commitment yet to...