Nov
12
And Then There Were Three: Universal Will Buy EMI
The home of The Beatles is being remodeled — drastically.
EMI, until now one of the four remaining major labels, is being broken up and sold off by the megabank Citigroup. After an auction that took almost nine months, French media company Vivendi, which owns Universal Music Group, will buy EMI’s recorded music division and Sony Corp. will pick up the publishing arm.
