Universal Music Group NV (UMG) held preliminary discussions with several private equity firms earlier this year regarding the possibility of taking the music company private. According to a report by Bloomberg News on Monday, October 26, 2026, UMG management engaged in exploratory talks with buyout firms including Apollo Global Management, TPG, and Blackstone.
The reported discussions took place amid a decline in the company's share price, which has fallen approximately 29% this year. The stock is currently trading below the level of its 2021 initial public offering. Earlier in May, UMG's board unanimously rejected an unsolicited takeover proposal from Bill Ackman’s Pershing Square Capital Management, which had suggested moving the company’s listing to the United States.
While UMG’s board was aware of the recent preliminary talks, the discussions did not progress and the company has not initiated a formal sale process. Any potential transaction would require the cooperation of the Bolloré family, which controls more than 30% of UMG through Vivendi SE and family holdings. Cyrille Bolloré told shareholders in May that the stock was undervalued but ruled out a premature sale. Tencent Holdings Ltd., which owns an 11% stake, has also not indicated an interest in selling.
The reported interest in going private highlights a growing gap between public market valuations and the prices commanded by music catalogs in private transactions. UMG and other major labels are currently facing investor concerns regarding the impact of artificial intelligence and synthetic music on streaming platforms. CEO Lucian Grainge stated in July that the company was prepared for unauthorized uploads and fraud, but the market remains cautious about how these technologies might affect royalty payments. If UMG were to leave public markets, it would no longer be required to provide the same level of quarterly financial transparency regarding these emerging industry risks.
At this time, there is no active sale process or deadline for a transaction. Representatives for Universal, Apollo, TPG, and Blackstone did not immediately respond to requests for comment following the report. The company remains listed on the Amsterdam stock exchange. Future developments would likely depend on the stances of major shareholders Vivendi and Tencent, neither of which has expressed a desire to divest their positions as of October 26, 2026.