Friday, November 21, 2003

THANK YOU KINDLY, EMI: What's that whistling sound? It's EMI stock tanking - down 12% this morning - as they get gazumped on the Warner deal. Time Warner have got a better offer from Edgar Bronfman Jr, the clown who sold Seagram (and with it, Universal) to Vivendi a few years back. Since the merger with Warners was pretty much EMI's best surviving plan for the future, it has a bit of tough time deciding what it plans to do next. It could offer more for Warners, but after years of poor management decisions the company is in no state to up the offer much further. It could just walk away, but their company line has been that the merger is vital to the company's future.

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