EMI fails again to buy rival Warner Music
Written by steven on May 3, 2006 to Music Business.
LONDON - Warner Music, has rejected a US$4.2 billion (£2.2bn; €3.3bn) bid by rival EMI.
A merger between the two has long been on the cards, in an attempt to compete more effectively with larger rivals Universal Music and Sony BMG.
Warner Music said it had carefully examined the offer, but decided it did not benefit shareholders.
“This is disappointing, as we believe the logic for combining the two businesses is compelling,” said Lorna Tilbian, an analyst with Numis.
If the two had merged, the combined company would have held about 25% of the recorded music market, based on figures from the International Federation of the Phonographic Industry.
Artists recording on the Warner label include Madonna and James Blunt, while EMI’s list includes Coldplay, Robbie Williams and Roxette.
EMI unsuccessfully bid to buy Warner from its previous parent, Time Warner, in late 2003 before losing out to an investment group led by it’s current CEO. Before that, European regulators blocked a proposed merger of the two media giants.
Other articles with the same topic
- Billboard mentions Roxette (February 26, 2011)
- Citigroup takes control of EMI (February 1, 2011)
- Kobalt signs Roxette in North America (January 13, 2011)
- Record "The Look" and win $5,000 shopping spree (August 11, 2010)
- EMI Music triples full-year earnings (May 8, 2009)
8 comments
RobS said on May 4, 2006 08:46:
I think you’ll find that they probably aren’t mentioned on any other articles or press releases. Just so happens that this is a Roxette news site, so it makes sense that they are in there :-)
Roxryder-V2002 said on May 4, 2006 11:50:
“Artists recording on the Warner label include Madonna and James Blunt, while EMI’s list includes Coldplay, Robbie Williams and Norah Jones.”
I stick to Roxette version indeed! :)
almeriakix said on May 4, 2006 16:22:
Roxette´s got more history than the other bands, and better music (for me), because the Coldplay songs are the same (bored bored and sad) and R. Williams.... no coments.
Marie c´mon and show to the world your great voice.
Per let the Greatest Hits V and write more new songs please.
Viva Almeria, viva Bolivia!!!
Room_service said on May 4, 2006 17:02:
I agree with poster above, Coldplay is so depressing... enough to commit suicide. Then, some fans say Marie’s albums are depressing, lol!
eBay said on May 4, 2006 08:13:
I think it is funny that Roxette should be listed amongst artist’s like Robbie Williams and Coldplay.. artists that Roxette simply can not compete with today..
Does Roxette ad any value to EMI?