Once Again, EMI Confirms Buyout Talks
EMI has confirmed via a public disclosure that it is in talks with, yet another, potential buyer. “EMI announces that it has, this morning, received a preliminary approach for the Company which may or may not lead to an offer being made for the Company,” the statement said. The disclosure follows certain regulatory requirements, though the company has declined to identity the suitor. Rumors are circling that the private...
Labels Lose Copyright Lawsuit Against Chinese Search Engine
A group of major labels, including EMI, Sony BMG, Warner Music and Universal Music, lost a lawsuit against China’s largest Internet search engine, Baidu.com, over alleged copyright violations. The majors alledged that Baidu was guilty of facilitating the illegal download of 137 pieces of music owned by the labels. The companies demanded Baidu suspend its popular MP3 search service on its Web site and compensate them with 1.73...
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