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Wednesday, March 31, 2010

EMI-UMG talks back on

TICK TOCK: With just hours to go before Terra Firma’s covenant test comes word that UMG and EMI have resumed talks about Universal licensing the British company’s currents and catalog (see coverage of the ever-changing situation in News). The negotiations resumed in the past 24 hours and may lead to UMG paying EMI as much as $300 million over five years, said the source. Such a deal would vault UMG far ahead of the ever-dwindling pack in both current and overall marketshare, where it has lately been challenged by surging Sony Music. (3/31a)

 
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