EMI reports net loss for first half but says sales on way back up
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EMI Group PLC, one of the world&#39;s biggest music companies, reported a small loss for the first half of its fiscal year Friday but said it expected an improvement in the second half which will reflect the release of several new albums that
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Shares in EMI Group Plc EMI.L gained   as much as 7.1 percent on Wednesday following a report that   Warner Music Group Corp. WMG.N was preparing a new bid to buy   the world's third largest music company.
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LONDON -- Shares of record company EMI Group PLC, whose artists include David Bowie and the Beatles, rose more than 6 percent Tuesday after a report that the company is in talks with private equity firms about a possible takeover.
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After a two-week streak during which the album selling periods of Christmas 2004 and New Year's Day 2005 looked stronger than their counterparts of a year ago, this week gives the appearance that the year's first sales week came up a loser, down almost 28% from the start of 2004.
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EMI Group, the world's third-biggest music company, has issued its second profit warning in little over a month, blaming the move on an &quot;unprecedented&quot; decline in US sales of compact discs.
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EMI reported a fall in interim profits but said booming digital music sales and efforts to stamp out piracy had put the industry as a whole well along the road to recovery.
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The company reported net income of $509 million in its first fiscal quarter, compared with $440 million in income for the same quarter a year ago.
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EMI sees download music sales rise by nearly 600% in the six months to the end of September and says they are becoming a major part of its business.
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LONDON: EMI, the world&#39;s third-largest music group, reported a drop in first-half profits on Friday but said the beleaguered industry was rebounding as online music sales start to take off.
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Insurer and fund manager AMP has reported a better-than-expected profit for the first half on higher investment returns and improved margins after casting off its British operations.
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Shares in Warner Music Group Corp.  fell 8.6 percent on Wednesday after rival record company EMI Group Plc  issued a profit warning on slowing sales in the North American music market.
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A swing to growth in US album sales and surging consumption of music on DVD helped slow the decline in first-half global sales of recorded music, the trade body for the
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Sales of singles in the UK show signs of recovery as the music industry as a whole grows, figures show.
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France&#39;s largest media group, Vivendi Universal, yesterday revealed that first-half net losses had nearly trebled to â¬1.86bn (Â£1.
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Quarterly net income was $46.3 million against a year-earlier loss, but sales continued to fall at the retailer amid intense competition in the electronics sector.
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Shares in Warner Music Group Corp.   fell 8.6 percent on Wednesday after rival record  company EMI Group Plc  issued a profit warning on  slowing sales in the North American music market.
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Mizuho, one of Japan&#39;s four biggest banking groups, reported Monday that group net profit for the first fiscal half fell 8.4 percent from the previous year, despite some progress in getting rid of bad debts.