Spacelab - indie music news, music festivals, music videos and free mp3 downloads, music reviews for indie rock, alternative music and electronic music. Music tech you can use.
   
  Music News  
   
     
     
  More Music News  
     

 Reviews  
     
   
     

 Spacelab News Feeds  
  Click here to subscribe  Jack in to the RSS feed  
       
     
 
 Search Spacelab
 

Google Custom Search
 

     
Arthur & Yu
 
 

EMI Sells (Out) To Terra Firma

 

By: Spacelab Research Staff

EMI, one of the remaining big heavies of major recording labels, has finally received the opportunity to sell the struggling label to someone else. With the way things are going for the big heavies these days, who can blame them?

It looks like everything is a go for the UK-based private equity group Terra Firma to take over. There was a lot of concern as Terra Firma had to align EMI shareholders into 90% approval. It looks like that happened late last week, and now Terra Firma can forcibly buy the remaining shares and buy EMI for a cool $2.4 billion.

This comes after Warner Music Group tried unsuccessfully to buy EMI earlier this year, a move which would reduced the world from 4 big heavies to three big heavies, further consolidating the majority of the world's copyrighted music into fewer hands. Now Terra Firma gets a run at reviving EMI.

 

Digg it | Post to del.icio.us

 Check out the new Spacelab Radio - LISTEN NOW

 More Music News