Record label support ruptures over EMI/Warner deal
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The united front independent record  labels have shown for a proposed tie-up between Warner Music  and EMI cracked on Friday when the Ministry of Sound, the  largest independent record company in Europe, quit a leading UK  trade body backing the deal.
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EMI said Warner Musicâs cash offer was not in the best interests of shareholders and placed too low a value on the company.
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Struggling music company EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline Tuesday with a possible new takeover bid by former suitor Warner Music Group.
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Britain's EMI Group Plc. is in talks  with a number of private equity firms including One Equity  Partners, a unit of JPMorgan Chase and Co., over potential  alternatives to a takeover approach from Warner Music Group,  the Financial Times reported on Thursday.
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Qtrax, a new free music download  service, backed off claims that it has deals with all four  major music companies after Warner Music Group denied it had  agreed terms with the start-up.
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Britain's EMI said it had received a bid approach from U.S. rival Warner Music, the latest twist in a seven-year battle in which the two music groups have tried to buy each other.
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Warner Music Group said on Wednesday that any possible takeover offer for EMI, the struggling British music company, would be in cash and not shares.
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Earlier this month, Warner became the first major record label to ask MP3 blogs to play its music. The company's approach did not go as planned.
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EMI Group Plc , the world's  third-largest music company, said it has dropped plans to buy  smaller rival Warner Music  "for the time being,"  sending its shares down as much as 7 percent on Thursday.
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NEW YORK/LONDON  - Warner Music Group Corp.  said on Wednesday any takeover offer it might make for Britain's EMI Group Plc  would probably be all cash.
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Steve Jobs: credit where very little credit's due EMI is close to removing rights management software from its digital music for good, in a move which would pile pressure on the rest of the recording industry to follow suit.â¦
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Warner Music Group&#39;s decision on  whether to counter bid for British rival EMI Group has become a  tortuously long one, as the No. 4 player grapples with exposing  itself further to recorded music amid a faster-than-expected  decline in the industry.
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Terra Firma deal in the bag? Warner Music Group (WMG) has said it will not be making an offer to buy-out its rival EMI.â¦
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Music group EMI, which announced last month it had received a preliminary takeover approach, has said that discussions with the potential bidder had been called off.
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EMI, the world's third largest music label, is actively considering removing the digital rights management restrictions from its song catalog and selling tracks online in MP3 format, according to a report published in The Wall Street Journal Friday.
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Two of the World&#39;s largest Record companies have formed an alliance on new digital products. EMI and Sony BMG, which between them control more than 30% of the global music market, said the ground-breaking
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EMI Group PLC and Warner Music Group Corp., locked in a tug of war after each rejected a takeover bid from the other, are still discussing a merger, EMI said Wednesday.