Tag Archive for EMI

Did Warner Overpay for Parlophone?

WMG owner Len Blavatnik shows off the jewelry that the Vivendi board gave him at the closing of the Parlophone deal.

Less than 2 weeks ago the Warner Music Group purchased Parlophone Records from Vivendi for $765 million in cash, however sources familiar with the Vivendi end of the deal say that the French conglomerate was prepared to take much less. According to a source “Vivendi would have been very happy with a sale price somewhere in the $500 million range. That’s what they were expecting.”

Warner, Sony Picking Up The Pieces

christmas-bonus

Lucian Grainge and Universal Music’s surprise acquisition of EMI Music big-footed the competition. Now Warner Music, desperate to stay alive after posting huge losses, is in talks with Sony for a distribution deal. The once prestigious super hip label is now an embarrassing shadow of its former self, the caretakers having sullied a legacy of artistic integrity.

Is This Guy Roger Faxon’s New Boss?

sean-parker

Industry sources tell me that Sean Parker is working furiously behind the scenes with Ron Burkle’s Yucaipa Companies to put together a winning bid for EMI. According to insiders, Parker really wants this to happen. The main competition seems to be…

Cain & Abel At Warner Music

Goobye Junior, hello Lyor?

When Warner Music announced that Junior Bronfman was getting kicked upstairs and being replaced as CEO by sexagenarian Stephen Cooper, a turnaround specialist and long-time Blavatnik associate, could mark the beginning of the end for Junior as well as the…

EMI Confident Of MP3Tunes Win

Justice, and licensing, is expensive.

Lawyers for EMI are confident that they will prevail in their lawsuit against Michael Robertson’s MP3Tunes, according to well-informed sources. The label also believes that they will get a ruling on the case fairly soon, though Robertson has heard nothing…