EMI To Be Split and Sold To To Sony and Universal

Full Story: Huffington Post 11 November 2011

EMI, the legendary and iconic British music company that is home to The Beatles, Coldplay and Katy Perry, is being split and sold for $4.1 billion.

Universal said Friday that it will pay 1.2 billion pounds ($1.9 billion) for the recording division, joining Universal artists including Lady Gaga and Eminem with EMI superstars such as David Guetta and Lady Antebellum.

On the other hand, a consortium led by Sony/ATV announced a separate deal Friday to pay $2.2 billion for EMI's publishing division. That business is in charge of songwriting copyrights for such artists as Rihanna and Norah Jones.

Posted in: Business, Music