Universal Music Group yesterday announced that they had now secured commitments to buy 90% of the shares in the Sanctuary Music Group which alongside the news of the EMI purchase by Terra Firma means that two of London's biggest music firms will now fall back into private hands.

Universal Music Group yesterday announced that they had now secured commitments to buy 90% of the shares in the Sanctuary Music Group which alongside the news of the EMI purchase by Terra Firma means that two of London's biggest music firms will now fall back into private hands.

Centenary Music Holdings, the Universal division buying Sanctuary, announced its recommended cash offer had been declared unconditional. Sanctuary has terminated an option distribution agreement with Warners. (Warners are paid certain sums for this termination.)