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