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Last week an article in the Financial Times covered the financial nightmare EMI is currently going through across the pond in the UK. It seems sluggish record sales in the US by big name artists like Janet Jackson and Robbie Williams have sold poorly here, forcing the company to re-issue a warning note to share holders making them aware of the losses likely to come this quarter.
Well today it seems the merger buzz crosses over from radio to the world of records with an announcement from Warner Brothers stating formal interest in acquiring EMI. This is a potential huge merger so be on the lookout for developments. If you’re an employee of either firm, a finalized merger would no doubt mean a loss of jobs for many. If you’re looking to get into the business at one of these firms, you’d better keep your fingers crossed, ’cause the market is getting even tighter!
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Category: music business news, record labels |Tags: corporate merger
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