The Hollywood Reporter's Georg Szalai spoke with Jean-Bernard Levy, chairman and CEO of the management board of Vivendi Universal, the owner of Universal Music Group.

"THR: Bertelsmann seems to be looking at selling its music assets. Any interest in BMG's music publishing operation?

Levy: We will be vigilant and ready to make a good bid for any significant assets that would be put up for sale.

THR: Could a spinoff of UMG, an initial public offering, make sense?

Levy: Do we not have the right management and do we need to change that through the stock market? No. Do we need to trade shares of the company because we need capital for acquisitions? No. So, what would the benefit be? Why should we deprive the shareholders of Vivendi of the value that the management of Universal Music is creating every day."

Coolfer's interpretation:

Q: You could stand to get into the music publishing business, couldn't you?
A: Yes, of course.
Q: Are you in such dire need of cash that you would jeopardize UMG's market dominance?
A: Are you nuts?

Read the entire interview here.