Time Warner and EMI merger talks point to a deal

NEW YORK: Time Warner is going ahead with plans to merge its recorded music operations with EMI as the long-awaited consolidation of the global music business gathers speed.


Executives at Time Warner still favour a deal with EMI, The Financial Times quoted people familiar with the negotiations as saying over the weekend. This is even after Sony Music and BMG, the music division of Bertelsmann, last week signed a non-binding letter of intent to combine their recorded music operations in a 50-50 joint venture.

The Sony-BMG deal raises the prospect of the two mergers racing to win approval from competition authorities. Regulators, who in 2000 twice blocked a sale of EMI, are expected to look more favourably on a merger following the sharp decline in industry sales and the rise of Internet piracy.

However, observers believe it is less likely that they would allow the global music business to consolidate from five to three large players. Eric Nicoli, EMI chairman, and Jeff Bewkes, chairman of Time Warner's entertainment network division, had talks last week in a meeting which people familiar with the matter described as 'constructive'. Sources said EMI had promised a senior role for Roger Ames, head of Warner Music, in the enlarged group if a deal is agreed.

The talks come as EMI also considers a rival approach from a private consortium led by Edgar Bronfman, the former chief executive of Seagram, and Haim Saban, the billionaire media investor. The group, backed by private equity investors, is thought to be willing to pay more than US$2.2 billion for Warner Music's operations including its Warner Chappell music publishing arm.

EMI is proposing to pay Time Warner about US$1 billion in cash for Warner Music while giving it a 25 per cent stake in the enlarged company. The deal would allow Time Warner separately to sell Warner Chappell, valued at about US$1.2 billion.

Latest Reads
World Television Premiere of Judwaa 2 on Star Gold

This Christmas, Star Gold dons the Santa hat promising to indulge its viewers with double the entertainment, double the excitement and double the fun! The Home of Blockbusters announces the World Television Premiere of one of the most sought after films of the year – Judwaa 2. The film that raked...

Television TV Channels Movie Channels
Eros International inks co-production pact with Drishyam Films

Eros International Media Ltd (Eros International) has signed a four-film co-production deal with leading production house, Drishyam Films.

Television Production House Film Production
ITW Consulting bags in-stadia ad rights for Ind & Aus tours of SA 2018

ITW Consulting, India-based sports management company, has acquired in-stadia advertising rights for the Indian and Australian Tours of South Africa for 2017/2018. ITW Consulting rights will market and sell these in-stadia advertising rights to non-South African companies and entities.

Television TV Channels Sports
Nickelodeon kid's choice awards 2017

Nickelodeon Kid's Choice Awards (KCA) 2017, presented by Dabur Red Paste, powered by Jolly Rancher in association with Yellow Diamond and Funskool and Apis Honey took place on 15 December 2017.

Television TV Channels Kids
Focus Group to launch Kannada news channel

Focus Group is now focusing on south India with its upcoming news channel Focus TV Kannada News.

Television TV Channels News Broadcasting
Panchal helps Star Bharat top Hindi GECs across genres

Optimystix Entertainment’s Indian comedy sitcom Kya Haal Mr. Panchal on Star India’s FTA Hindi GEC Star Bharat has been amongst Broadcast Audience Research Council of India’s (BARC) weekly list of top-five Hindi GEC programmes in the HSM markets, more so during primetime. In week 49 of 2017:...

Television TV Channels Viewership
&Privé HD celebrates the birthday of the Steven Spielberg

&Privé HD, the English movie channel, presents Club Privé: Spielberg Edition – a curation of five of Spielberg’s best movies exploring different sides of human emotions. The special will air from 18 to 22 December at 11 pm only on &Privé HD.

Television TV Channels English Entertainment
Green Gold’s golden Mumbai launch

MUMBAI: Green Gold Animation is all set to hit the green running with its new offshoot Golden Robot. The Rajiv Chilaka-run animation outfit has been wowing everyone with its deals for animation series with both Netflix and Amazon Prime.  But the occasion this time was the celebration of the launch...

Television Production House Film Production
Gujarat elections boost news channel ratings as Republic continues to lead English News

BENGALURU: Rahul Gandhi’s shenanigans and Narendra Modi’s sudden and unexpected belligerence at rallies leading up to the Gujarat state assembly elections have resulted in bolstering sagging news viewership, especially for the English news genre. According to Broadcast Audience Research Council of...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories