Report: The UMG Takeover Of EMI Battle Spills Over To A Different Fight
June 27, 2012 at 4:14 AM (PT)
The battle between supporters of UNIVERSAL MUSIC GROUP's proposed takeover of EMI MUSIC and detractors has spilled over to affect the release of a report on the music business. THE NEW YORK POST reports "UNIVERSAL, the industry's top player, is being blamed for delaying the release of the market-share report while it tries to gain regulatory approval for its proposed $1.9 billion takeover of EMI's recorded music business."
The report, "Investing In Music," by THE INTERNATIONAL FEDERATION OF THE PHONOGRAPHIC INDUSTRY was scheduled to be released in LONDON YESTERDAY (6/26).
THE POST writes, "The event was canceled, however, when fighting broke out over the report. According to two sources, UNIVERSAL, run by CEO LUCIAN GRAINGE, wanted to downplay the role of the major record labels in launching and shaping new artists."
Sources told THE POST, "UNIVERSAL wouldn't sign off on the report unless the changes were made, while rivals refused to okay it if the IFPI bowed to UNIVERSAL's demands."
UNIVERSAL denied trying to hold up the report, telling the the paper "they simply want it to reflect the realities of today’s marketplace."