Still Want To Buy EMI? Sony Says Yes. WMG Avoids The Question


The on-again, off-again interest is starting to sound like a ‘bad romance’. But Sony (NYSE: SNE) Music may be rekindling its interest in EMI, according to comments coming out of Germany…

We are in a position that allows us to seize every opportunity in the market – including EMI,” Sony Music chief Rolf Schmidt-Holz told German paper Frankfurter Allgemeine Sonntagszeitung, in translated remarks.

Just recently, EMI owner Terra Firma pitched investors on a £360 million ($557 million) rescue plan. That would mostly avoid a painful covenant breach and possible seizure by Citigroup, though Terra chief Guy Hands was also selling some outlandish return prospects.

A more immediate injection of £105 million is reportedly ‘close,’ according to one source, though the situation remains on edge.

And what about Warner Music Group? (NYSE: WMG) The label has been rumored to be kicking the tires, though during the latest quarterly, WMG chairman Edgar Bronfman mostly avoided the subject.

“We really try not to respond to rumors and speculation… in light of the heightened media rumors and speculation regarding EMI, I think it’s prudent for us not to take any comment in that regard.”

This story has been provided by our content partner Digital Music News.

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