Time to Pay Attention
February 4, 2011
Almost as exciting (or unexciting, depending on your side of the fence) as EMF buying new radio stations all the time, we now have the label spinning wheel. It's spinning and swirling with new possibilities.
Let me catch you up to speed (in case you're out of the loop, unlike me):
- Warner Bros. hired Goldman Sachs to find someone to buy them.
- Citigroup just bought EMI and restructured debt to help EMI look better for a potential buyer.
- BMG (once part of Sony/BMG, now separated) is back in the game but only as a publishing/copyright management group.
How's your head? Spinning yet?
It gets better.
Warner hired Goldman Sachs and said they were interested in buying EMI in the same breath. EMI is probably looking to sell off assets that include their publishing company (which includes the Beatles catalog) which would fit BMG to a "T"...or a "G"...depending on your level of joking.
Either way, we are at an interesting crossroads as our label friends aren't exactly sure where they will be in the next 6-18 months.
Either way, we should pray, support and encourage our partners as they prepare for uncertainty in the months to come.
Because you better believe this will affect everyone. Even radio.