Confirmation Friday of those talks arrive after Vivendi SE, the French media conglomerate that owns Universal, stated that it might spin off the tag which is home to Taylor Swift, Billie Eilish, Lady Gaga, as well as the Beatles. The firm last year acquired Bob Dylan’s whole catalog.

Universal, using its massive portfolio of musicians, has profited from the adaptation of music streaming across numerous platforms.

The 10% stake goes for about $4 billion and are funneled through a special-purpose acquisition firm, Vivendi and Pershing confirmed Friday.

A SPAC is generally a group of bigger investors that raise cash for acquisitions and seek out acquisition targets.

Pershing Square’s SPAC, called Pershing Square Tontine, increased about $4 billion final year. Pershing Square is run by billionaire William Ackman

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Vivendi has spoke of dispersing 60 percent of Universal Music shares to its stockholders as part of almost any spinoff. Tencent possesses a 20% stake of the audio company and Vivendi has been in talks with the Chinese conglomerate too.

Vivendi plans to list shares of Universal Music on Euronext Amsterdam later this season and Pershing said Friday that it would disperse the obtained Universal Music shares to its stockholders at that point.