“UK music business EMI Group has agreed to be bought by private equity firm Terra Firma for £3.2bn including debt,” BBC News reports.
The Beeb reports, “The group, whose artists include Robbie Williams and the Beatles, has been the subject of bid speculation for the past year as its business has struggled. It previously rejected a takeover bid from US industry rival Warner Music.”
“EMI’s board of directors has recommended the 265-per-share offer from Terra Firma but the deal must be approved by the firm’s shareholders,” The Beeb reports.
“The deal is unlikely to raise the same competition issues as if EMI was being bought by one of its rivals such as Warner Music and could take just months to be completed,” The Beeb reports.
“Terra Firma is run by Guy Hands, one of the UK’s leading financiers,” The Beeb reports. “He said the deal would enable EMI to ‘build on its current position as one of the world’s leading music companies and accelerate the development of its digital and online strategy to fully exploit this long-term growth opportunity.'”
Full article here.
[Thanks to MacDailyNews Reader “Macnut222” for the heads up.]
uhoh…hello DRM.
Who is robbie williams? Another one hit wonder?
That is a far better move as Warner would have killed off EMI’s creative base just as it has with its own.
Forget DRM. Contracts have been signed sealed & delivered.
Not bought by Simon Cowell? He probably has enough money.
Who is Robbie Williams?
Are you kidding me? Get on the iTunes store. He has had hit after hit.
Bondi,
Robbie Williams is huge in the UK and Europe and continually growing more popular in the U.S. He has sold over 53 million albums worldwide and is UK’s highest selling artist. Additionally he holds the Guiness Record for selling 1.6 million concert tickets in one day.
Check out his music sometime on iTunes, I’m a big fan.
bondi wrote “Who is robbie williams? Another one hit wonder?”
huh ?, it’s not quality music, but he sold over 70 million albums !
the 1.6 million tickets for his tour were sols in one day (record)
see here: http://en.wikipedia.org/wiki/Robbie_Williams
Robbie Williams is a former boy band boy who’s gone solo. I think he was The Tough One.
He’s sold a lot of albums. And Dell has sold a lot of PCs.
“Guy Hands”? Wasn’t that a character on a Seinfeld episode?
OK i just wasted my time 😀
Chunky, I think you mean Man Hands 😀
IBM just announced the G6. Can download 5million songs from iTunes in one minute they claim.
“Can download 5million songs from iTunes in one minute they claim.”
Where did I put that $4,950,000 I was carrying around?
I have to admit, I’ve never heard of Robbie Williams, either. From the description, it doesn’t sound like I’m missing much. Quantity does not necessarily equal quality.
Let me entertain you! BustingTheSkullOfIdiots.
You have my sympathy over your choice of name. How do you identify an idiot?
“Robbie Williams… I think he was The Tough One.”
lol You don’t know shit.
Wasn’t The Beatles that band Paul McCartney was in before Wings?
Williams is post-Guy Lombardo, so that’s why you’ve never heard of him.
*pats Busting on head and pushes button to call nurse*
Apparently Terra Firma outbid Rippa Nuthern.
Hopefully they will sign my favorite gay rap band, Him-n-Him,
with Busta Rump and Poppa Johnson.
They know how to break it down…and then clean it up, fashionably!
Pity Steve didn’t just buy it, he’s always had soft spot for the beatles and he’d be able to shuffle it of to Disney, his other media company
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GOODBYE DRM FREE MUSIC!!!
Oh yes, it’s over now for sure.
Wnta ot bte? iBte nyanoe hwo cna raed htis si a $ USD hsit-haed, ah ah!!!
I love Robin Williams! He’s so fuuunnny!
………..