Warner Says No to 4.2 Billion to Merge with EMI

Published: 2006-05-04
American label Warner Music has turned down a $4.2 Billion 'cash-and-stock' offer from EMI for the two companies to become one.

Of the four major record labels, Warner Music, EMI, Universal and Sony BMG - Warner and EMI come in as the smallest two, even though they control 25 per cent of the market combined. If they were to come together and become one super major label they would control more of the music share than Universal, but continue to trail Sony BMG.

Both labels have an impressive roster, with New York-based Warner boasting Madonna, Crosby Stills & Nash and Green Day, and London-based EMI holding rights to Coldplay, Kylie Minogue and the Rolling Stones.

The major labels are teaming up to battle a dip in record sales, which they believe is due to increased illegal music downloading.

Writer: Michelle Garcia



Fatal error: Call to undefined function session_is_registered() in /home2/soulshi/public_html/news/newsarticle.php on line 513
Please login / register to post a personalized comment, or you may simply post as an Anonymous user.
SPEAK OUT! Post your comments about this article here.