EMI/Warner merger scrapped for now





The merger proposal between giants EMI and Warner Music Group has been temporarily scrapped, due to their inability to meet European Commission deadlines to address concerns. However, a proposal is still very much in the works to unite them into one enormous company that would have a combined artist roster of over 2,500. Some of those artists include Madonna, Metallica, Radiohead, REM, Garth Brooks, Eric Clapton, Everclear, and the back catalog of the Beatles,
the Rolling Stones, and Frank Sinatra.


While the 2 companies see the merger as a way to save a lot of money (and perhaps eventually take over the world), the reality for employees would be that over 3,000 people will be let go, and certainly a lot of lesser-known bands will see the door. Commenting on all the mergers of late, Donita Sparks of L7 said, "I just hope all those companies merge themselves until they implode. It will just make the independents stronger." The juryís still out on that one. Talks are ongoing regarding this merger.


Source: Sonicnet

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EMI/Warner merger scrapped for now