(Reuters) - Universal Music Group held preliminary discussions with private equity firms earlier this year about going private, Bloomberg News reported on Monday, citing people familiar with the matter.
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The music label's management held preliminary talks with private equity firms including Apollo Global Management, TPG and Blackstone, according to the report
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Talks have not progressed and Universal has not started a sale process, the report said, adding that the company's board is aware of the discussions
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Universal, Apollo Global Management, TPG and Blackstone did not immediately respond to Reuters' requests for comment
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The report comes months after Universal's board unanimously rejected an unsolicited takeover proposal from Bill Ackman's Pershing Square Capital Management
Reporting by Abu Sultan in Bengaluru; Editing by Diti Pujara and Shreya Biswas
Source: Reuters