Apple Denies Rumors of Purchase of Universal Music
Despite many news reports (including our own) that Apple Computer is in the process of trying to acquire Vivendi Universal's Universal Music Division, Apple's CEO, Steve Jobs, denied that Apple has made an offer to acquire or to invest in Vivendi's Music Division. However, Jobs did not deny that the companies were in discussions or that Apple might make a bid from Apple within the next few weeks.
In the meantime, Vivendi Universal is being sued by USA Interactive, which could delay any sale of its entertainment assets in the U.S. The Universal Music Division sale also will require the "thumbs up" from the Chairman of USA Interactive e-Commerce group, Barry Diller. Ironically, Diller is now suing Vivendi Universal for allegedly breaching 'tax distribution payments' reported to be worth over $750 million.
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