Ministry of Sound And AIM Exchange Blows Over WMG Merger and NDA
Ministry of Sound, the grounded U.K. dance music label, has issued its second “open letter” to Association of Independent Music (AIM) in just two days, targeting Warner Music Group and bashing AIM’s acceptance of a Non-Disclosure Agreement covering the deal with the major label. The London-based firm had earlier resigned from AIM, the U.K. independent music companies’ trade body, in protest of Impala’s...
EMI Shoots Down Warner Music’s Takeover Bid
EMI rejected a £2.1 billion / $4.1 billion cash takeover proposal from Warner Music Group minutes ago, stating the price was not enough and not in the best interests of its shareholders. “The board concluded that it is not in the best interests of EMI shareholders to entertain a pre-conditional offer which would entail prolonged regulatory uncertainty and unacceptable operational risk at a critical time for the company,”...
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