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Tuesday, February 21, 2012

UMG Hopes to Keep EMI Whole

KEEPING IT WHOLE: Universal Music Group intends to keep EMI's recorded music business as a single division within the enlarged company, according to sources, if the European Commission approves the merger, according to the London Guardian. UMG topper Lucian Grainge is also reportedly interested in appointing a chief executive to oversee EMI, reporting to him. The competition body said it would make an initial ruling by March 23, by which time it will have approved the transaction or submit a more lengthy "phase two" inquiry. (2/21p)

 
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