Sony eyes EMI for possible takeover
By Ludwig Burger |
May 10, 2010, Monday
|
Print Edition
Print Edition
SONY Music said it is considering a bid for ailing British rival EMI yesterday, while its main rivals deny any interest or decline to comment on their intentions.
"We are in a position that allows us to seize every opportunity in the market - including EMI," the head of Sony Music, Rolf Schmidt-Holz, was quoted as saying by German paper Frankfurter Allgemeine Sonntagszeitung.
EMI's owner, buyout firm Terra Firma, is asking investors for 360 million pounds (US$557 million) for the British music company to prevent the investment from falling into lenders' hands, a source told Reuters last month.
EMI, home of artists like the Beatles and Coldplay, tried but failed to agree a licensing deal for its North American rights in March after holding talks with Sony Music and Universal Music Group.
Warner Music last Thursday declined to comment on speculation that it was eyeing assets of EMI.
"We are in a position that allows us to seize every opportunity in the market - including EMI," the head of Sony Music, Rolf Schmidt-Holz, was quoted as saying by German paper Frankfurter Allgemeine Sonntagszeitung.
EMI's owner, buyout firm Terra Firma, is asking investors for 360 million pounds (US$557 million) for the British music company to prevent the investment from falling into lenders' hands, a source told Reuters last month.
EMI, home of artists like the Beatles and Coldplay, tried but failed to agree a licensing deal for its North American rights in March after holding talks with Sony Music and Universal Music Group.
Warner Music last Thursday declined to comment on speculation that it was eyeing assets of EMI.
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