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Sat, Nov 21, 2009 - 11:19 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Music label EMI agrees to takeover

Monday, May 21, 2007 - 01:01 PM EST

"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.]

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May 21, 07 - 12:03 pm Comment from: Bizarro Ballmer

uhoh...hello DRM.

May 21, 07 - 12:15 pm Comment from: bondi

Who is robbie williams? Another one hit wonder?

May 21, 07 - 12:15 pm Comment from: Crabapple

That is a far better move as Warner would have killed off EMI's creative base just as it has with its own.

May 21, 07 - 12:17 pm Comment from: Crabapple

Forget DRM. Contracts have been signed sealed & delivered.

May 21, 07 - 12:21 pm Comment from: No Squirt For You

Not bought by Simon Cowell? He probably has enough money.

May 21, 07 - 12:23 pm Comment from: nick

Who is Robbie Williams?

Are you kidding me? Get on the iTunes store. He has had hit after hit.

May 21, 07 - 12:23 pm Comment from: um...hello

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.

May 21, 07 - 12:25 pm Comment from: Martin

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

May 21, 07 - 12:29 pm Comment from: larry turnauer

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.

May 21, 07 - 12:29 pm Comment from: Chunky Monkey

"Guy Hands"? Wasn't that a character on a Seinfeld episode?

May 21, 07 - 12:30 pm Comment from: Martin

OK i just wasted my time :D

May 21, 07 - 12:50 pm Comment from: M

Chunky, I think you mean Man Hands :D

May 21, 07 - 12:59 pm Comment from: R

IBM just announced the G6. Can download 5million songs from iTunes in one minute they claim.

May 21, 07 - 01:04 pm Comment from: No Squirt For You

"Can download 5million songs from iTunes in one minute they claim."
Where did I put that $4,950,000 I was carrying around?

May 21, 07 - 01:09 pm Comment from: BustingTheSkullsOfIdiots

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.

May 21, 07 - 01:14 pm Comment from: Crabapple

Let me entertain you! BustingTheSkullOfIdiots.

You have my sympathy over your choice of name. How do you identify an idiot?

May 21, 07 - 01:17 pm Comment from: eyeroll

"Robbie Williams... I think he was The Tough One."

lol You don't know shit.

May 21, 07 - 01:47 pm Comment from: PzKpfW

Wasn't The Beatles that band Paul McCartney was in before Wings?

May 21, 07 - 02:33 pm Comment from: @Busting

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*

May 21, 07 - 02:47 pm Comment from: TowerTone

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!

May 21, 07 - 04:34 pm Comment from: KillBill

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

May 21, 07 - 08:46 pm Comment from: MacCrazyintheHEAD

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!!!

May 22, 07 - 01:53 am Comment from: Stab the Man (the Surreal One)

I love Robin Williams! He's so fuuunnny!

May 22, 07 - 02:31 am Comment from: absentminded

...........

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Sat, Nov 21, 2009 - 11:19 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Music label EMI agrees to takeover

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Sat, Nov 21, 2009 - 11:19 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Music label EMI agrees to takeover

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