Klarinet Archive - Posting 000286.txt from 2002/03

From: "Ed & Carol Maurey" <edsshop@-----.ca>
Subj: Re: [kl] Boosey and Hawkes
Date: Fri, 15 Mar 2002 10:35:17 -0500

It looks like we can safely look forward to a sharp decline in the quality
Buffet clarinets. Magavox once owned Selmer. The results were disasterous.

Ed Maurey

----- Original Message -----
From: "Dr. Laroy Borchert" <lborcher@-----.edu>
Subject: [kl] Boosey and Hawkes

> Hello List,
> While surfing, I came across this article. Does anybody on the list have
> any additional information?
> Laroy
>
> From Classical.com
>
> Wednesday, 13 March, 2002, 01:47 GMT
>
> Equity groups bid for music firm
>
>
>
> Two equity groups are said to be among the three players bidding for the
> instruments business of music company Boosey & Hawkes.
>
>
> Close Brother Private Equity and 3i are reported to be two of the bidders.
> Final bids are now with Deutsche Bank, which is managing the auction.
> Another private equity firm, Graphite Capital, which had been interested
in
> the business, is now thought to be unwilling to match other offers.
>
>
> Graphite was part of a group led by London-based music publishing group
> Music Sales that last year sought to acquire Boosey's musical instruments
> and publishing divisions, thought to be worth more than $140 million (£100
> million).
>
>
> The bid led Boosey, with debts estimated at $85 million (£60 million), to
> put itself up for auction.
>
>
> Music Sales is reckoned to be the only potential buyer for Boosey's
> publishing arm. US piano maker Steinway pulled out of the auction last
> month.
>
>
> BMG and Universal are said to have expressed a previous interest in
Boosey's
> catalogue, as did EMI, though EMI is thought to be out of the running.
>
>
> Boosey owns the rights to publish composers Rachmaninov, Prokofiev and
> Copland. Shares in the company are valued at 181p, making the group worth
> $53 million (£37.2 million).
>
>
> Dr. Laroy Borchert
> Professor of Clarinet
> New Mexico State University
> Las Cruces, NM 88003
> (505) 646-3735
> lborcher@-----.edu
>
>
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