Tag - EMI
The European Commission approved Universal Music's takeover of EMI Music, though it required some concessions. Universal agreed to divest nearly one third of EMI assets, including its Parlophone flagship music label in Europe. There are other stipulations, such as agreeing to a set of market controls that dictate how Universal handles contracts with digital music services.
In the latest maneuver during a legal battle with EMI that began in 2007, MP3Tunes has filed for bankruptcy. The move puts the ongoing case on hold, and could prevent a judgement in the matter. EMI isn't abandoning the suit, and as the CEO of MP3Tunes is a co-defendant in the case, he is personally facing liability for the alleged infringements.
A group led by Sony on Thursday won its side of a joint bid on EMI assets. The alliance, which includes the Blackstone Group, David Geffen, Mubadala Development, and Raine Group, was cleared by the European Commission to buy EMI's publishing wing for $2.2 billion. The deal is contingent on Sony's group selling off catalog rights for Virgin's European, UK, and US divisions, along with Famous Music UK.
ReDigi, a company that wants to sell 'used' digital music, has successfully dodged a preliminary injunction filed by EMI last month. Capitol Records, who owns EMI, argued that the service would infringe copyrights as there would be no guarantee that the seller would delete the copy of the digital track being sold. The US district judge in charge of the case, Richard Sullivan, ruled (PDF) for ReDigi, but did state the case raised a number of technological and statutory issues.
Music label EMI is now known to have sued fledgling service ReDigi for its strategy of reselling downloadable songs. New details obtained by CNET showed that EMI unusually didn't object to the doctrine of first sale, which only lets a seller collect income with the initial purchase, but rather the origins of the MP3s and other music. ReDigi isn't selling the music from paid sources like iTunes, EMI said, and by extension isn't selling legal copies.
EMI Music Publishing appears to be the latest content owner to file a lawsuit against the online music company Grooveshark. Although the music label has a licensing agreement with Grooveshark, the latter company is accused of not making "a single royalty payment" or providing any accounting statements.
Sony may be in an unintentional race with Apple to bypass the limits of traditional TV providers for its own live TV service, multiple sources might have disclosed on Tuesday night. The electronics giant is believed by the Wall Street Journal to be talking to media firms to get rights for streaming TV channels. The focus would be on Sony's own devices, ranging from Blu-ray players through to TVs and the PS3.
Google's November 16 music event is still likely to see it go without some potentially critical deals. Follow-up details reportedly slipped to AllThingsD still had Sony and Warner holding out and unlikely to reach a deal in five days. EMI was the only certain prospect, and Universal was very likely, but not certain.
(Update: confirmed) Citigroup is splitting EMI in two for a sale that's about to be imminent, according to claims Friday. Pointing to sources, the Wall Street Journal's Dana Cimilluca said that the publishing wing, EMI Music Publishing, would be sold off to a Sony consortium for $2.2 billion. The pure music label would go to Universal for $1.9 billion.
The Echo Nest, which calls itself a music intelligence platform that supplies developers with music and data, has now teamed up with EMI Music. As part of the deal, Echo's 10,000 app developers will have access to all of EMI's artists. Revenues will be shared between developers and rights holders, with EMI handling all the required licensing, clearance requirements, and marketing of the resulting apps.