Vivendi will close a deal to buy BMG Music Publishing from German media giant Bertelsmann tomorrow afternoon in Paris for €1.63 billion ($2.05 billion), Billboard.biz has learned. Vivendi is th

Vivendi will close a deal to buy BMG Music Publishing from German media giant Bertelsmann tomorrow afternoon in Paris for €1.63 billion ($2.05 billion), Billboard.biz has learned. Vivendi is the parent company of Universal Music Group.

Sources close to the deal say that BMG Music Publishing will be folded into Universal Music Publishing, but only after the purchase receives approval from European Union regulatory authorities, a process that could take months.

The sale will end a lengthy bidding war, with Vivendi ultimately beating out bids from Warner Music Group and Viacom. The combined market share of Universal Music Publishing and BMG Music Publishing would make the enlarged firm the world's largest music publishing company, with roughly a quarter share of the market. EMI Music Publishing is currently the market leader, with an estimated 17% of the market.

Additional reporting by Susan Butler, N.Y.