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Warner Music Group Takeover Bid On EMI

Posted by Archive Bot on Thursday, February 22, 2007 at 9:56 AM

EMI the struggling British music company, has said it has received a fresh takeover approach from US rival Warner Music. Analysts said even acceptance by EMI could lead to regulatory difficulties.

Warner’s approach comes as EMI is battling against sliding sales of compact discs in the United States. EMI last week said it expected revenue at its recorded music business — EMI Music — to show a decline of about 15 percent in the year to March 31 compared with the previous 12-month period (KingsofAR).