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Universal Music Group will sell half of its equity stake in Spotify and use the proceeds to help fund an expanded share buyback program totaling EUR โฌ1 billion (USD $1.
Universal Music Group will sell half of its equity stake in Spotify and use the proceeds to help fund an expanded share buyback program totaling EUR โฌ1 billion (USD $1.17 billion) , the company confirmed on Wednesday (April 29) alongside its Q1 2026 results. The decision comes three weeks after Bill Ackman โs Pershing Square launched a $64 billion takeover bid for UMG that proposed liquidating the companyโs entire Spotify stake to help fund the deal. UMG โs board has yet to make a decision on the Ackman proposal. A UMG press release on Wednesday confirmed: โConsistent with the Companyโs approa
