EMI Posts A Loss on First Half Of 2006
EMI announced a loss of 30.6 million pounds for the first half of 2006 due to falling CD sales, fewer product launches and an accounting fraud at its Brazilian business. Not pretty… The interim loss, equivalent to €45.4 million or $58 million dollars, compared with a net profit of 36.7 million pounds compared with the same period of 2005. Looking ahead, EMI said it would be lifted by soaring digital sales and a heavier...
EU To Rule On BMG Music Sale Dec. 8
European Union (EU) regulators set a Dec. 8 deadline to rule on Universal Music Group’s plans to buy BMG Music Publishing for $2.09 billion. Vivendi SA’s Universal is the world’s largest music company and BMG, owned by German media company Bertelsmann AG, has the rights to more than a million songs by recording artists such as Nelly, Maroon 5 and Coldplay, as well as classic hits by the Beach Boys, Barry Manilow and...
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