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New Music Business Briefing For 2/20/07: WMG Wants EMI, Sirius Buys XM, Sony BMG Layoffs Loom & Much More

EMI Music Division Appears For Sale

EMI could sell or spinn off its recorded music division as part of a radical overhaul, according to reports Emi_81 from the UK in an effort  to reverse falling profits. The plan is apparently being given serious consideration by EMI's board.

The goal is to radically cut costs and boost the EMI share price leaving EMI essentially a very profitable music publishing company with a catalog of more than one million songs.

And more details have emerge on efforts by EMI Music to get much needed cash by getting advances from download services to switch to DRM free mp3's as well as Real Networks approach to all labels to drop copy protection. Read more here.