Talking of Warner, shares in the US music company fell this week, partly in response to EMI's pessimistic words on the state of the American recorded music business, and partly because of not inconsiderable revenue slides within Warner itself. EMI, meanwhile, is again the subject of takeover rumours following its issuing of a second profits warning earlier this week. Although EMI Group boss Eric Nicoli is busy restructuring his recorded music business to try and overcome current financial woes, some city types say investors are getting impatient and may push for a change at the top of the company to renew the fortunes of the London based major, with an all out takeover complete with new management team being suggested in some quarters. Given the aforementioned Bronfman is known to still harbour ambitions to lead a merged EMI Warner, some reckon a hostile Warner takeover of EMI is not completely off the cards, despite the regulatory challenges such a merger would face.
Feb 16, 2007
•
1 min read
City news
Warner shares fell this week, while EMI faces takeover speculation as investors reportedly grow impatient with chief Eric Nicoli.