EMI THE BIG LOOSER...AGAIN
UPDATED: The Rolling Stones are days from signing a massive 360 deal with Live Nation, according to the Guardian. Since the Stones control much of their catalog, EMI could loose $4.6M USD in yearly revenue. Such a loss would be a major blow to the struggling label group even as new owner Guy Hands' Terra Firm attempts to re-structure it. Universal is rumored to become the new distributor if the deal closes.
Just last week, bickering between Live Nation's top execs over the pace of expensive 360 deals became public. But its hard to imagine that Live Nation's #2 Michael Cohl would allow anything to stop him from completing a deal with his long standing friends and business partners the Rolling Stones.
UPDATE:The Rolling Stones now deny that a label move in imminent. (Billboard/Reuters) Some Live Nation exclusive deals do not include recordings, but I'm guessing anything is still possible
