Bids Are High For EMI

Bids Are High For EMI
As previously reported, approximately 10 companies have made offers to purchase EMI Music's recorded music and publishing divisions in the first round of bidding, with bids coming it at more than $3.5 billion, according to Companies placing bids on EMI's entire company included Access Industries, which acquired the recorded music and publishing divisions of Warner Music Group in July, Platinum Equity and the Gores Group, and private equity firm Permira. Companies placing bids for EMI Music Publishing were BMG, Oaktree Capital Management and publishing company Primary Wave Music, and Sony Corporation. Placing bids for EMI's recorded music division were Ronald O. Perelman, chairman and CEO of MacAndrews & Forbes Holdings Inc., and Universal Music Group. Management presentations to bidders are expected to take place in London beginning Aug. 8 and in New York the following week. (8/5)

Apple Is No. 1 Global Smart Phone Maker
topped the list of global smart phone makers in the second quarter of 2011 with 20.3 million iPhones sold, up from 18.7 million in the first quarter and surpassing Nokia, which fell to third place with 16.7 million smart phones sold, down from 24.2 million in the previous quarter. Samsung rose to No. 2 with 17.3 million smart phones sold, up from 10.8 million in the first quarter, and Research in Motion placed fourth as sales of its BlackBerry declined from the first quarter. (8/5)

Foster To Head Verve Music Group
Sixteen-time GRAMMY-winning songwriter/composer/producer David Foster will head Verve Music Group, fulfilling a post that has been vacant since Ron Goldstein's exit in 2007, according to Though details on his expected arrival date were not disclosed, Foster is expected to shift Verve's focus from jazz to adult contemporary pop. Verve's current roster includes GRAMMY winners Herbie Hancock and Diana Krall. (8/5)


Email Newsletter