More major label rumblings. BMG bosses are trying to put a positive spin on their figures for the first half of 2003, which see a slight slip in revenues, and a considerable slip in profits on the same period last year. The continuing decline in the music industry, its commitments to the newly acquired Jive Records and the fact many key releases are still to come are being blamed. In reality BMG's main concern will be that the figures don't weaken its hand in the ongoing merger talks with Warner Music.
Sep 4, 2003
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1 min read
BMG upbeat despite disappointing half-year figures
BMG reports a slight drop in revenues and a considerable fall in profits for the first half of 2003, which it blames on industry decline and its acquisition of Jive Records.