Universal Music Group Valued at $39B Ahead of Public Listing

With French media conglomerate Vivendi set to spin off Universal Music Group (UMG) on Tuesday and the music major’s stock starting to trade on Amsterdam’s Euronext stock exchange, its stock’s reference price was set on Monday.
Vivendi, led by CEO Arnaud de Puyfontaine, has long been planning the listing of the label home of Taylor Swift and Lady Gaga to take advantage of the rebound of the music business amid streaming growth. A Euronext notice on Monday said the company’