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| Emi's Woes | |
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| Tweet Topic Started: Apr 10 2014, 12:21 AM (216 Views) | |
| namralos | Apr 10 2014, 12:21 AM Post #1 |
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Level 5
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I thought you'd appreciate this recap from the Wall Street Journal. |
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| AurelianDE | Apr 11 2014, 01:12 AM Post #2 |
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Level 2
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Thanks for sharing. What eludes me is how the one-time number 1 in the recording business could be up for grabs in the first place. I'm not sure I understand the minutiae. 'Equity' spells out as 'greed', no doubt. Sad story. And look at Billboard exactly fifty years ago ... |
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| namralos | Apr 11 2014, 06:57 PM Post #3 |
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Level 5
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EMI was losing money steadily throughout the 2000's. They were losing over 200 million pounds each year by 2007. After that the company changed hands a few times. They had tried to merge with Warner Brothers in order to consolidate, but that failed (twice). Terra Firma -- 2007 (They cut over 1500 jobs.) EMI leaves SouthEast Asia in 2008. In '07-'08 they lost a lot of artists. By 2010, they were losing 1 billion pounds per year. CitiGroup -- 2011 After that, the sale to Sony and Universal was brokered. Universal -- 2012 |
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7:32 PM Jul 11