Lucian Grainge attends the 2019 Billboard Power 100 on Feb. 7, 2019 in Los Angeles.
That’s the message from UMG chairman and CEO Lucian Grainge, who addressed employees as its parent Vivendi announced it has entered into talks with China’s Tencent Holdings on a partial sale of the music major. In a company-wide memo circulated soon after, Grainge thanked staff for “delivering remarkable, record-setting results,” and asserted the talks were an “exciting development” for Vivendi and UMG. The music giant, he said, will remain a valued member of the “Vivendi family.”
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