Sony has finally filed in Europe to merge their company and EMI publishing. The deal was confirmed back in November last year and is priced at $2.2 billion.
A representative of the Sony group, which among several others includes Mubadala, the investment arm of Abu Dhabi, confirmed the filing in a statement on Monday, according to The New York Times.
A while ago it was announced that Simon Cowell has partnered with Will Smith and Jada Pinkett Smith for a new reality talent show for, get this, the “world’s greatest DJs.” The concept is nothing new, but this time they have picked the wrong genre!
Simon thinks that DJs are the rockstars of their era. This may be the case, but will DJs want to sell their sole to the devil to get a shit 1 album record deal with Syco Records and Sony? Doubt it!
What a terrible idea! Plus, when you think it cant get any worse they mention that Will Smith is helping produce the series.
HMV has been struggling a lot with its mounting debt, pressure from banks and fall in overall sales. HMV has now announced that they will be giving equity worth 2.5 percent to its key suppliers – music and movie studios – to avoid breaching its banking covenants. This saw HMV shares rise 100% in a matter of minutes. I find it very interesting that HMV can give away 2.5% of their company for writing off old debt and shares can increase. I know their bottom line looks a lot better, but it really doesn’t draw away from the fact that the CD music market is in decline and HMV isnt adapting very well to this changing market!
HMV are also in talks to sell their profitable live music company, Mama Group, plus selling off their 50% stake in 7Digital. I can only see tough times ahead of this high street giant who didn’t move with the times (sounds very much like the Kodak story!).