EMI, Warner Bros. Fail To Make Sweet, Sweet Love

Brian Raftery | March 2, 2007 1:08 am

It’s getting hard out here for an IMP*: According to numerous reports, EMI has turned down a $4.1 billion proposal from Warner Music Group Corp., saying that the offer wasn’t up to snuff. So what does this mean for us? Well, for the time being, only a handful of major music groups control the industry, as opposed to a very small handful. And it also means that the next round of inevitably massive lay-offs has been postponed–for the moment.

* International Music Proprietor

EMI rejects Warner Music’s $4.1 bln bid proposal [Reuters]