You may recall that Warner Music (chairman: Edgar “Bronfy” Bronfman, Jr.) had attempted to buy EMI a couple months ago. Well, no soup for you, Bronfy! EMI has now struck a deal with private equity group Terra Firma (Latin: it’s what’s for dinner).
Maltby Limited, a company formed at Terra Firma’s direction, is offering £2.4 beeelion (or $4.73 billion of real money) for the record company, and will apparently leave the current management in place. While that decision means likely no change to EMI’s DRM-free rollout, it also means that EMI is likely protected from any chance of a Warner takeover, which could have nixed the MP3 plan.
The deal is pending, as regulators and shareholders still have to give their thumbs up, but it seems like a good deal all around.
[via iPod Observer]
"Terra firma [L.], firm or solid earth, as opposed to water". Back to terra firma is an expression often used by people landing after a voyage by sea or air. Nothing to do with dinner.
Iocus est.
At least it's more down to earh (yeah I did) than, say, Quo Vadimus (which will be making a last-minute bid, I'm sure).