Big music business wants to get bigger

Exactly what the music industry needs.

EMI and Warner Music were locked in a two-way $4.6 billion takeover battle on Wednesday, with each trying to acquire the other to create a combined company that would shrink the industry to three dominant players.

London-based EMI Group Plc, home to Coldplay and Robbie Williams, said it had rejected a 2.5 billion pounds ($4.6 billion) cash offer from its smaller U.S. rival, calling the bid “wholly unacceptable”.

At the same time, EMI revealed that it had sweetened its takeover bid for New York-based Warner Music, whose artists include Madonna and Red Hot Chili Peppers, to $31 a share or $4.6 billion in total, from its original May offer of $28.50, although the new bid was also rejected.  [reuters]

Oh, by the way, I was being sarcastic.

This is just asking for more problems within the music industry.  The bigger something gets, the more you have to feed the giant.  Record companies are already having a hard enough time dealing with the growth of the digital music format.  Getting bigger is not the answer.

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One Reply to “Big music business wants to get bigger”

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