New Music Business Briefing For 2/23/07:
Recent Changes Inside The Executive Suites

Europe's Largest Indie Protests WMG EMI Bid

Ministry of Sound, Europe's largest indie label best known for it's dance hits and compilations, hasMinistryof_sound left the UK's Association of Independent Music over the trade group's European umbrella organization Impala's endorsement of Warner Music's bid for EMI.  (see previous story)

Ministry of Sound's Lohan Presencer said that he was "shocked" and argued that "...previous mergers of Universal/Polygram and SonyBMG had dramatically affected our lEmi_86evel of support at retail, access to media, ability to licence major owned catalogue for our Wmg_55 compilations and pricing....If a trade body claims to represent our interests and then does nothing to protect them, we have no choice but to do what's best for our business."  Presencer said that  M.O.S. would directly oppose any EMI and WMG merger before European regulatory bodies.

Various sources say that a number of other indie labels are considering leaving AIM or Impala_logo_6IMPALA. Earlier in the week EMI informed WMG (who has yet to make a formal bid) that it was concerned over EU approval and was also in talks with several private equity firms who would not face the same anti-trust barriers.

More: Discussion on the Velvet Rope.

Comments