EMI and Warners would dearly love for us to view their long relationship as one of the great romances of our time, but it's endless sniping, disappointments and failure to consummate makes it more like Frasier and Lilith. Although they, at least, did manage to get into bed together. Perhaps its more Sam and Diane. Whatever ill-considered pairing they resemble, though, it's all gone cold again as EMI's board formally rejects Warners' takeover bid:
The implication seems to be it's not worth the trouble it'd bring for the size of the offer on the table.