Tuesday, July 31, 2012

Universal throw more stuff away from EMI takeover

Universal is now so desperately scared of not being able to takeover EMI that it has proposed a deal whereby it'd offload European rights to the EMI catalogue:

EMI chief executive Roger Faxon has written an internal email to his staff outlining which parts of the music business Universal has proposed to sell off, including Mute, Chrysalis (excluding the Robbie Williams catalogue) and Ensign labels.

Included in that disposal would be the Pink Floyd catalogue and the recently concluded new deal with Guetta, along with his catalogue.

Pink Floyd's EMI catalogue includes Dark Side of the Moon, Wish You Were Here and The Wall – albums that still sell extensively and are believed to bring in millions of pounds a year.

Faxon said the divestments only relate to the exploitation of EMI's repertoire in Europe.
It's an interesting move - if only because it might raise a question for American regulators about why Universal thinks a combination of it and EMI would distort the European marketplace, but not the US?