This is HUGE!
Due to financial difficulties, the EMI record label may be sold to Warner Music Group within the year.
"I would auction off the music publishing business and dump the recorded music business to Warner," said analyst Michael Nathanson when asked about possible scenarios for the company.
According to another analyst at Standard & Poor's Equity Research, Tuba Amobi, a deal is a possibility because the parent company of EMI, Terra Firma, is "much more dire straights" than it has been in the past.
We had no idea it was this bad!
Tags: emi group, record industry, warner music group