In the British record company EMI – will be the new owner

» Posted by on May 14, 2011 in Events | 0 comments

In the British record company EMI – will be the new owner

LIn the British record company EMI - will be the new owner

egendary British record company EMI, owned by American Financial Corporation Citigroup, will be sold, writes The Guardian. As the likely buyer is an American billionaire Leonard Blavatnik, the Russian origin.

According to the newspaper, Citigroup, to which the label went for debt management company Terra Firma in February 2011, EMI will sell in parts. Initially, the division of EMI recorder claimed, in particular, the two companies: Universal, and Warner Music, which is owned by Blavatnik structures. At the end of last week, leaders Universal refused to fight for EMI, and Warner was the only major player in applying for a British leybl.Stoimost transaction valued at $ 1.5 billion. . According to The Guardian, before the end of next weeks purchase must be approved by regulyatorami.Kak expected as a result of the purchase Blavatnik EMI recordings in the world market will be the third largest player: merge EMI and Warner will bring the combined company to Universal and Sony, which now occupy dominant market positions. In this case, most likely the result of the transaction will be the disappearance of the brand EMI, at least from the American rynka.EMI Group was formed in London in 1931. At various times in the studios of EMI recorded and produced artists such as The Beatles, Pink Floyd, Coldplay, Kylie Minogue and many others. As noted by The Guardian, EMI remains the last major British record label, which is also making concerted efforts for the development of local pop muzyki.O that EMI will qualify for Leonard Blavatnik, became known in May 2011, shortly after the businessman bought Warner Music Group for $ 3.3 billion.