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November 11, 2011 06:05 pm

Universal Buys EMI's Recorded Music Unit For $1.9 Billion


An anonymous reader writes "The 'Big Four' music labels are about to become the 'Big Three.' Universal Music Group is buying the recorded music unit of EMI for $1.9 billion. It's expected that a consortium led by Sony will soon purchase EMI's publishing unit for upwards of $2 billion. 'Although the enlarged Universal will now account a third of all music sales worldwide, company executives believe they can persuade regulators to allow it to swallow the business whole because the music industry is in such decline. Nevertheless, Universal will respond by selling record labels or catalogs if the European Commission were to demand disposals.'"

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/o6diI9qxntk/universal-buys-emis-recorded-music-unit-for-19-billion

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