EMI on Failed Licensing Deal

WHAT HAPPENED? At 2 a.m. (ET) this morning, EMI Music apparently was putting the final touches on announcing a licensing deal with Universal Music Group. By 5 a.m. (ET), the deal was dead. What happened? Depending on who's doing the spinning, either UMG walked away (see below) or the EMI board turned down the deal, insisting it wasn't large enough to increase value for its artists or labels. Parent company Maltby and Terra Firma will continue with their plan to search for investors between now and June, the actual default date for loan payment of $190 million. Meanwhile, EMI's court case against Citigroup gets underway in New York Oct. 18. Stay tuned, folks. (3/31p)

BACK TO RUMOR MILL

		UMG AND TIKTOK WORK IT OUT The kerfuffle is in the past. (5/2a) Check It Out Now LUCIAN SOUNDS OFF ON UMG/TIKTOK DEAL A breakdown from the boss (5/2a) Check It Out Now JAMES KING: THE HITS INTERVIEW (PART ONE) London calling (5/2a) Check It Out Now TOP 20: IT’S STILL TAYLOR’S WORLD Large and in charge (5/2a) Check It Out Now THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL That's what friends are for. (5/1a) Check It Out Now
		THE NEW UMG Gosh, we hope there are more press releases. TIKTOK BANNED! Unless the Senate manages to make this whole thing go away, that is. THE NEW HUGE COUNTRY ACT No, not that one. TRUMP'S CAMPAIGN PLAYLIST Now 100% unlicensed!

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EMI on Failed Licensing Deal

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