Citigroup is reportedly close to making its decision on the sale of EMI and will likely announce the winning bidders early next week, according to the New York Post. As previously reported, Citi will likely split EMI into two and sell its recorded music division and publishing arm separately.

Sources tell the Post that BMG Rights Management, co-owned by KKR and Bertlesmann, is the leading bidding for EMI's publishing division. BMG has bid a reported $2 billion for the publishing arm, and is Citi's preferred choice because it would not run into anti-trust issues. Sony ATV is still in the mix however, despite potential anti-trust troubles.

As for the recorded division, the Post reports that Warner Music Group and Universal Music Group are the last two bidders standing. WMG's new owner, Len Blavatnik of Access Industries, reportedly issued an ultimatum to Citi on October 14 that he would pull his bid if a decision wasn't made quickly, but it was dismissed as "posturing." Citi is expected to fetch between $1.3 and $1.5 billion for EMI's recorded music division.