The world’s largest music company, which trades on the pan-European Euronext stock market in Amsterdam, plans to list shares in the U.S. later this year.
Bolloré will "focus his time and energy on the Bolloré Group," which owns 18.5% of UMG's stock and has recently run into regulatory opposition in France.
UMG and the South Carolina-based company have already filed 15 patents and received two for applications that use AI in musical collaboration, administration and rights management.
The proposed deal, under preliminary review, will be subjected to a months-long investigation by Europe's competition regulator, according to Reuters.
In a keynote at the UN's AI for Good summit, Michael Nash discussed market-based solutions to AI issues, copyright and current collaborations.
The label will focus on emerging talent from around the world.
Femia joined the label group in 2013.
Two iconic labels are opening up shop in the world's second most populous country.
Law professors are sounding the alarm bell on Drake's high-profile lawsuit against UMG, citing the controversial practice of rap lyrics in criminal cases.
The billionaire investor told the board he would step down due to new obligations stemming from his company's other investments.
