The European Union has given the go-ahead for the selling off of assets from Great Britain’s last remaining big international recording and music behemoth, EMI.
News of this has just been announced on ‘Slipped Disk’ by Norman Lebrecht. This potential shake up of the recording industry will have far reaching implications within the industry. Not least for the RLPO, who are recording an extensive portfolio with Vasily Petrenko on the Classics label.
Here is Norman’s breaking story…
Will EMI have to sell off Classics?
The European Union has approved the Universal takeover of the last British major, subject to the new owners selling off certain bits in order to avoid an outright monopoly. Which bits is still under discussion.
Classics, perhaps? And if so, who would buy? Well, there is a consortium known to me who want the label and its archive. Two years ago, they made an offer, backed by finance. Whether the finance is still forthcoming in tougher times remains to be seen. Whether Universal will accept is another conundrum.