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EMI split and sold for AUD$3.9 billion
14 Nov 2011

We’re sure you’ve all already heard about this story. It is a big day in the international music industry.

Here is a taste of the article we read on The Music Network:

In its 80th anniversary year, EMI has been split and sold to competitors for a combined $US4.1 billion ($3.9 billion).

After a nine month bidding war, Universal Music Group has bought EMI’s recorded music division for US$1.9 billion and now owns material from music greats like The Beatles, Pink Floyd and Coldplay.

For US$2.2 billion, EMI Music Publishing has been sold to an investor group comprised of Sony Corporation of America, the Estate of Michael Jackson, Mubadala Development Company PJSC, Jynwel Capital Limited, the Blackstone Group’s GSO Capital Partners LP and David Geffen.

For the whole story go HERE!

Or for another take on this breaking news go HERE!

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