The protracted auction of EMI Group finally concluded Friday, with Citigroup Inc., owner of the storied British music company, sealing deals to sell its publishing arm and recorded-music label at a price that exceeds many industry watchers' expectations.

EMI's recorded-music unit will be sold to Vivendi SA's Universal Music Group for $1.9 billion, the companies confirmed Friday. A group spearheaded by Sony Corp.'s music division is to buy the publishing operation for $2.2 billion, according to a statement from the company....