With everyone in the music business looking at the potential of growth in the Chinese market as the battle against piracy there gains some momentum, EMI have, erm, sold half their operations in the region. The major has sold its share in two Hong Kong based record labels to its business partner in those joint ventures, Typhoon. The Typhoon based company has also bought EMI Music Taiwan. As part of the deal with Typhoon, which is led by former EMIer Norman Cheng, the indie will have the rights to distribute international EMI artists in China and Taiwan while the major will have the rights to release any Typhoon artists globally should they wish to. Specifics of the deal have not been reported, though Billboard say they've heard EMI has an option to buy back into the Chinese businesses in the future. We do know it doesn't effect EMI Music Hong Kong, which remains within the EMI Group.
Aug 5, 2008
•
1 min read
EMI sell Chinese ventures
EMI has sold its share in two Hong Kong labels and EMI Music Taiwan to its joint venture partner Typhoon, led by Norman Cheng.