IMPALA Co-Head OKs UMG-EMI

IMPALA HEAD OKS UMG-EMI, IF…: Impala Co-President Patrick Zelnik has penned an editorial in today’s London Financial Times in which he comes out in favor of the UMG-EMI deal, if Universal agrees to certain concessions. “I think it could be just what the sector needs… to create a more competitive industry, while offering stability to EMI’s artists,” sayd Zelnik, co-head of the org, which represents European indie labels and has been previously opposed to the merger. Zelnik's three-pronged approach requires UMG to commit to “transparent, non-discriminatory, easy licensing to new platforms; targeted, surgical divestitures to independents instead of to hedge funds, private equity or pension funds” and a commitment to “direct financial support for industry groups that aid in leveling the playing field between small and large labels, so that the innovations of entrepreneurial labels are quickly adopted by the rest of the industry.”  For the complete story, click here. (7/16p)