Terra Firma’s Bid For EMI Has Been Extended To July 4, 2007 For Shareholder Approval
Terra Firma stated that shareholders of EMI would be given more time to consider takeover offer after Terra secured less than four percent of shares. The British private equity group Terra revealed that the company owned only 3.53 percent of EMI stock at the original offer’s closing date when EMI accepted its cash offer worth £3.2 billion (€4.7 billion, $6.4 billion). Terra also disclosed that the 4% includes the...
iTunes Becomes Number 3 Online Music Retailer
Did EMI’s DRM-Free Tracks Make The Difference? Apple’s iTunes online music store was named the third-largest overall music retailer in the United States according to The NPD Group. The new ranking allow iTunes to jump ahead of Amazon.com and Target Corp. in units sold. ITunes had a 9.8 percent market share in the first quarter, ranking behind Wal-Mart Stores Inc.’s 15.8 percent and Best Buy Co.’s 13.8 percent,...
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