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EMI Mulling Sale, Demerger Of Its Recorded Music Division

19 Feb

LONDON : EMI Group, the world’s third-biggest music company, may sell or demerge its recorded music division as part of a radical overhaul of the firm to reverse falling profits, a newspaper reported.

The weekly newspaper The Observer quoted unnamed sources close to the company as saying the board was giving “serious consideration” to the plan for EMI Music after issuing its second profit warning in little over a month last Wednesday.

EMI currently plans to save 110 million pounds (163 million euros, 144 million dollars) per year.

Shares in EMI Group slumped more than 11 percent as a result of the second profits warning — their lowest level since November 2005.

Explaining its new forecast, EMI said it expected revenue at its recorded music business — EMI Music — to show a decline of about 15 percent in the year to March 31 compared with the previous 12-month period.

EMI blamed the situation on an “unprecedented” decline in US sales of compact discs.

The company, which has The Beatles, Coldplay and Janet Jackson in its catalogue, warned on January 12 that full-year revenues at EMI Music could decline year on year by approximately six to 10 percent.

Its first profit warning led to a management shake-up, including the appointment of a new chief executive of EMI Music, Eric Nicoli.


Channel News Asia

Music World's Great Night

28 Feb

Music world’s great night

THE BIGGEST names in music will grace the stage at the recording industry’s most prestigious event — the 44th Annual Grammy Awards — which will be telecast by Star World on Thursday at 9 p.m. (it will be aired earlier at 6.30 a.m. and at 5.30 p.m.).

The stars are set to shine when the National Academy of Recording Arts and Sciences announces the benchmark in music. The nominees include such luminaries as U2 (with eight nominations, including Album of the Year, Song of the Year, and Record of the Year), India.Arie (seven nominations), Alicia Keys (six nominations), Nelly Furtado, Train, and Lucinda Williams (each with four nominations). Other artistes with nominations include Janet Jackson, Jay-Z, Aerosmith, Trisha Yearwood, Sade, Elton John, Backstreet Boys, *NSYNC, Aaliyah, and well, several others.

An impressive line-up of artistes is guaranteed to heat up the stage with performances scheduled by Alicia Keys, Alejandro Sanz with Destiny’s Child, U2, *NSYNC with Nelly, Train, the Dave Mathews Band, Alan Jackson, and a special tribute to the O Brother, Where Art Thou? soundtrack with Emmylou and Alison Krauss.

There’s more to come. A wide range of artistes from the music and TV world have been invited as presenters at the awards, including Gloria Estefan, Janet Jackson, Britney Spears, Gwen Stefani, the Dixie Chicks, Kid Rock, Kevin James (The King of Queens), Ray Romano (Everybody Loves Raymond), and Diana Krall. Critically acclaimed and immensely popular, actor-comedian Jon Stewart will host the Grammy Awards for the second consecutive year.

We hear that the odds favour Alicia Keys for the top slot. She’s the “It Girl” of music. Her debut album, Songs In A Minor, has already reached triple-platinum status and spawned blockbuster Number One hits. This year she has six nominations for the Grammy. At the 2002 American Musical Awards, Keys was honoured with six nominations. In the 2001 Billboard Music Awards, she garnered seven nominations and walked away with the Female New Artist of The Year Award.

In 1998, Keys signed with Arista Records to continue the process of writing, producing, and recording the debut that she was working on since the age of 14.

In late 1999, Keys decided to join Clive Davis, the high-profile recording executive responsible for the success of Janis Joplin, Bruce Springsteen, and Santana, and his new record label, J Records.

Keys saw this as an opportunity to grow, and Davis, being the legendary record mogul that he is, has been relentlessly hyping the piano-playing prodigy ever since. Alicia Keys was born of Italian and African-American parentage, and raised in Manhattan. Her mother encouraged her to take up piano lessons from the age of five, and the piano eventually became one of her true passions in life. Alicia’s stock will skyrocket when the remake of A Star Is Born becomes reality.

By K. Satyamurty

Hindu On Net