And talking of that EMI Warner merger - speculation is still rife as to whether the world's third and fourth biggest record companies will ever get as far as seeking EU approval for their merger plans, as both sides continue to resist the others' attempts at acquisition.
According to the Times, Warner shareholders are now holding out for an offer of $5.6 billion (or $38 per share) from EMI, some $1 billion more than the figure currently being offered by the London based major, and a figure considerably higher than any past valuation of the company. But an EMI source has told Reuters that that kind of bid just isn't going to happen. Reuters quote their source as saying: "EMI has for some time been keen to discuss valuation with Warner, but clearly believes $38 is a completely unrealistic valuation for a company that was trading at $21 in March".