Universal Music Group is set to become the world's biggest publishing company following an agreement to purchase BMG Music Publishing for $2 billion in cash.
The move brings the works of Maroon5, Mariah Carey and Nelly under the Universal umbrella.Once the BMG catalogue is absorbed into Universal, Universal Music Publishing Group will become the largest music publisher in the world ahead of Warner-Chappell.
Bertlesmann, the parent company Sony-BMG and BMG Music Publishing, announced the sale of the publishing business in May to help raise around $6 billion for other interests.
An official announcement about the sale from both parties is expected later this week.
