Universal Music Group logo1Vivendi SA said it will sell up to half of Universal Music Group, cashing in on a surge in music streaming that has infused new life into the industry after years of decline. The French media conglomerate will sell the stake to one or more “strategic partners” and has ruled out an initial public offering — long seen by analysts as a likely option — because it is too complex.

Vivendi will establish a floor price for the stake and the sale will probably go ahead “this fall,” with completion possible within the next 18 months, Vivendi said in a statement. Analysts at Liberum this month valued Universal Music at 20.6 billion euros ($24 billion). Read more from Bloomberg.

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