EMI foiled by Bertelsmann
13 April 2012
MUSIC giant EMI's bid to muscle in on a potential deal with America's Warner Music Group appear to have been thwarted by Germany's Bertelsmann group, which is in exclusive negotiations with the US colossus, according to company insiders.
Bertelsmann's music arm BMG today reported a 16% slide in sales in the first half of this year and CD sales fell by a fifth, but insiders said it remained locked into exclusive negotiations with Warner. EMI shares fell 2 3/4p to 171 3/4p.
