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REUTERS EMI Dealsls Come Under Scrutiny | Citigroup's deals to split EMI would reduce the number of major players in the music industry to three from four and give Universal and Sony advantages over Warner Music, The New York Times reports.
Page B1 PACT TO SPLIT MUSIC COMPANY The pair of deals to split EMI between Sony and Universal would give those companies substantial advantages over Warner, the only other major player still in the market.
Last year, Citigroup reached a pair of deals to split EMI — a British company with roots dating to 1887 — between Sony and the Universal Music Group, with Universal offering $1.9 billion for EMI's record labels.
Last year, Citigroup reached a pair of deals to split EMI — a British company with roots dating to 1887 — between Sony and the Universal Music Group, with Universal offering $1.9 billion for EMI's record labels (which includes the Beatles' recordings).
In May, the Warner Music Group was sold to Access Industries, a conglomerate controlled by the Russian-born billionaire Len Blavatnik, and in November Citigroup reached deals to split EMI — home to the catalogs of the Beatles, Coldplay and Katy Perry — between Sony and the Universal Music Group.
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