EMI to sell music to Vivendi for $1.9B

LONDON, Nov. 11 (UPI) -- EMI Group is close to striking a deal for its recorded music division with French firm Vivendi, a source told The New York Times.

The deal, which does not include EMI's publishing business, will be a transaction valued at $1.9 billion, the Times said Friday.

The deal would place music from the Beatles and Coldplay in the hands of parent company Universal Music Group, the Times noted.

EMI is also discussing sale of its publishing business. The top contender for that deal is Sony/ATV Music Publishing, the source said.

The deal with Vivendi could be announced Friday while the deal with Sony/ATV is not expected immediately, the source told the Times.