IMPALA Rejects Member Requests For WMG Deal Details
Could This Lead To More Defections?
IMPALA announced that it won’t announce any more details of its controversial deal to support a possible purchase or merger between WMG and EMI. The deal announced in February caused top European indie Ministry Of Sound as well as Gut to exit the trade group. Other members have demand details about the deal only to have the door shut in their faces.
“The Board of IMPALA has decided, in its judgment of the best interests of its members, to limit any further circulation or disclosure of the Warner agreement until such time as the parties agree that it may be fully publicly disclosed, and further fully informed discussion is possible. IMPALA is continuing the process of consulting with local associations, and accepts that this may mean that certain of them nonetheless may not be able to confirm their position until full disclosure is possible.”
The entire IMPALA press release is now available online.
The Future: Well this short press release certainly won’t win them any new friends. The big question is what does IMPALA have to hide?