EMI – the fourth largest business group of record labels in the recording industry and one of the big four record companies in the world – is up for sale by it’s owner Citigroup, with the bidding deadline today. As the deadline approaches, speculation is increasing as to whether the company will be sold in its entirety or if it will head to the chopping block, with recorded music and publishing being sold separately. Citigroup has encouraged both types of bids, so the sale could go either way. All in all, the deal could close for more than $3 billion. This sale could potentially take the number of major record labels down from 4 to 3, which is half the number of prominent players in the late 90s….monopoly anyone? More opportunities for indie players in the industry. Look out — here we come!
Click here for the full story on Billboard