EMI Licensing Deal Negotiations Stall

EMI Licensing Deal Negotiations Stall

EMI Licensing Deal Negotiations Stall
Following a previous report, negotiations to license EMI Music's North American catalog rights to Sony Music Entertainment or Universal Music Group have ended without an agreement. EMI conducted separate discussions with both companies in an attempt to secure funds ahead of a banking covenant test with lender Citigroup before a deadline today. According to a Reuters report, two anonymous sources described the negotiations as too complicated and the licensing agreement as unacceptable. EMI owner Terra Firma has until June 14 to raise money to help prevent a takeover from Citigroup. (3/31)

Jazz Guitarist Herb Ellis Dies
Herb Ellis
died March 28 at his home at Los Angeles. Ellis, who had Alzheimer's disease, was 88 years old. During his career that spanned more than a half century, Ellis played with jazz luminaries such as Louis Armstrong, Jimmy Dorsey, Ella Fitzgerald and Stan Getz and emerged as one of jazz's renowned guitar soloists. Ellis was also a member of the Oscar Peterson Trio, considered to be one of the more formidable musical trios in jazz history, with bassist Ray Brown and pianist Peterson. Ellis won two GRAMMY Awards with the trio, the second of which came in 1991 for Best Jazz Instrumental Performance, Group for Saturday Night At The Blue Note. (3/31)
 

Email Newsletter