Warners say no to EMI takeover

Beatles record label not to be taken over by label giant

Photo: Next Previous

Photo Gallery: The Beatles

Warner Music Group has said it won't bid for The Beatles' record label EMI.

The label confirmed this, despite recent claims that it was considering making an offer.

However Warner, whose artists include Madonna and R.E.M, believes it can still bid or participate in a proposal for London-based EMI in the next six months, the New York based music company said today (July 18) in a statement.

Warner is looking for additional revenue as illegal file-swapping of digital recording reduces sales of compact discs. Also album sales have been falling, particularly in the US, where they fell 15 percent in the first half of 2007 from the same period last year.

EMI recommended a 2.4 billion pound buy out offer from Terra Firma Capital Partners Ltd in May.

Warner Music Group declined to elaborate beyond the company’s statement and EMI refused to comment, reports BBC 6 Music.

Read More On This Artist

More News
Public Access TV assure fans of their safety after their New York apartment building collapses
Pentangle's John Renbourn dies, aged 70
The War On Drugs, The Cribs, Palma Violets, Wolf Alice join T In The Park bill
Henry Rollins announces UK spoken word tour
Members of The National, Menomena form supergroup Pfarmers
Gene Simmons accuses 'dishonest' Rolling Stones and U2 of using backing tracks during gigs
Rihanna unveils new single 'Bitch Better Have My Money'
Mumford & Sons to perform on 'Saturday Night Live' in April
Action Bronson performs 'Baby Blue' with Chance The Rapper on 'Letterman' –...
Bassist of Argentine band among dead in Germanwings plane crash
Jamie xx reveals tracklisting for debut solo album 'In Colour'
Physical release of Drake's 'If You’re Reading This It’s Too Late' to feature...
Brian Wilson says that Lana Del Rey 'cancelled' her appearance on his new album
Spotify experiences 1,900 percent rise in One Direction streams following Zayn Malik's...
Laura Marling paints murals of new album artwork at various locations around London
Liam Gallagher reportedly offers child support settlement to mother of his daughter
Run The Jewels and Zack De La Rocha reveal 'Close Your Eyes (And Count to Fuck)' video...
Ed Sheeran surprises couple at their wedding reception – watch
Kim Gordon records 'minimal hip-hop track' with Peaches
David Cameron says he's a fan of The War On Drugs
Wholesale company attempt to sell 1,000 One Direction cut-outs by removing Zayn Malik
Mariah Carey and James Cordon sing together in 'Late Late Show' skit – watch

More News


Please login to add your comment.

Latest Tickets - Booking Now
Know Your NME

NME Store & Framed Prints
Inside NME.COM