Monday, 16 July 2012

UNIVERSAL´S EMI DEAL FACES CHORUS OF DISSENT

As most of Paris prepares to shut down for the summer, there's one man who won't be joining the rest of the French elite in taking an extended six-week holiday on the Côte d'Azur.

EMI is the company behind acts such as the Beatles (pictured). 
Jean-René Fourtou, the boss of Universal Music's French parent company, is working against the clock to persuade European competition officials that the recording giant's proposed £1.2bn takeover of EMI from Citigroup will be in the best interests of the embattled music industry.
In an unusual intervention, Mr Fourtou, chairman of Vivendi, has taken charge of Universal's campaign in Europe to secure the recorded music division of EMI, the iconic British business behind the Beatles, Coldplay and Katy Perry.
Universal Music, which is French-owned but based in Los Angeles, has less than eight weeks before the European Commission delivers its verdict on the controversial tie-up, which is stringently opposed by rival and independent music labels.

READ MORE... HERE.

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