WMG, KKR, Bertelsmann Consider EMI Bid

WMG, KKR, Bertelsmann Consider EMI Bid

WMG, KKR, Bertelsmann Consider EMI Bid
Warner Music Group is in discussions with a joint venture between German media group Bertelsmann and private equity firm Kohlberg Kravis Roberts & Co. regarding making a potential bid for EMI Group. The discussions are in the preliminary stages and it is not clear whether the bid would be for a portion or all of EMI. Last year KKR and Bertelsmann entered into a joint venture to own and manage music publishing rights. As previously reported, EMI Music CEO Elio Leoni-Sceti will leave the company March 31. (3/16)

Michael Jackson's Estate Lands $250 Million Recording Deal
Sony Music Entertainment
and the estate of Michael Jackson have agreed to a recording deal guaranteeing the estate $200 million, with a total value of potentially up to $250 million. The deal will include 10 albums over the next seven years featuring both unreleased songs and new catalog recordings. Sony has sold approximately 31 million of Jackson's albums since his death last June. (3/16)

UK Antipiracy Bill Clears House Of Lords
The UK Digital Economy Bill, a three-strikes law designed to combat Internet piracy through issuing warnings to illegal file-sharers, has cleared the House of Lords. The law would impose ISPs with the duty of enforcing copyright protection, with three offenses resulting in suspension of Internet service. The bill will now be reviewed in the House of Commons. (3/16)

 

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