Warner Rejects EMI Acquisition Proposal

Posted on May 3, 2006

After much speculation, Warner Music Group has unilaterally rejected a buy-out bid from the EMI Group. Warner issued this brief statement: “Warner Music Group Corp. (NYSE: WMG) recently received a preliminary non-binding proposal from EMI Group Plc. The Warner Music Group Corp. board of directors has carefully evaluated the proposal in conjunction with the company’s outside legal and financial advisors. The board has...