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May 22, 2007

music

EMI entertaining buyout offer

Posted May. 22, ’07, 8:17 AM PT by Dan Moren
Category | Music

Terra Firma and EMIYou 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]


3 Comments

Kris Jones said:

"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.

May 22, 2007 10:25 AM
Dan Moren Author Profile Page said:

Iocus est.

May 22, 2007 1:26 PM
Dave-O said:

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).

May 22, 2007 1:56 PM

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