(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 remaining members of Pink Floyd have reached a settlement in a dispute with record label EMI, according to an announcement. As a part of an agreement which will see Pink Floyd stay with EMI for another five years, the latter party claims that "all legal disputes between the band and the company have been settled." No greater elaboration of what the statement means has been offered.
In the wake of an expired EMI contract, finished on June 30th, several popular Pink Floyd albums have disappeared from the iTunes Store. The contract covered albums following 1973's Dark Side of the Moon, and as a result means albums like Animals and The Wall have been pulled as separate entities. They can still be bought as a part of the Oh By the Way boxset, which costs $140. Some individual songs can also be downloaded.
Pink Floyd in a UK court on Thursday won a key ruling in its case against EMI for allegedly breaking its contract terms. The quick turnaround would prevent the music label from selling any Pink Floyd songs as individual downloads without permission from the band. In his findings, Judge Morritt determined that the key clause preventing per-track sales was meant to "preserve the artistic integrity" regardless of format.
Progressive rock band Pink Floyd on Tuesday sued its label EMI for allegedly breaking the terms of its contract through online sales. The complaint accuses EMI of knowingly "unbundling" the band's songs by letting those at iTunes and other online music stores buy some songs individually, against terms that insist all the content of an album be sold as one item.
