EMI has been trying to buy Warner Music for about six years. The latest song and dance act between these two started last month.
The affair has turned into a test of strength between the EMI chairman Eric Nicoli and Warner's Edgar Bronfman. Both want to be top dog.
EMI, with Coldplay and Robbie Williams on its books, made a £2.3bn offer for Warner Music, home to Madonna and James Blunt. Warner first said no, then came back with a counterbid.
It offered £2.5bn for EMI and, when this was rejected, raised it to £2.54bn yesterday. EMI again said no, calling the offer "unacceptable" and describing its offer as far more superior.
No comments:
Post a Comment