We've just given the CMU Major Labels Merger Team (all 12 of them) extended leave, and then this happens. Yep, according to the Times, that Edgar Bronfman Jnr fella is again considering a takeover bid for London based major record company EMI.
As previously reported, Bronfman's Warner Music made two takeover offers for EMI earlier this year, both in response to attempts by EMI to take over Warner. But both sides said they were putting their takeover ambitions on hold after the European courts ruled that the European Commission should not have allowed Sony and BMG to merge their recorded music operations back in 2004. Analysts felt that as European authorities were in the process of voiding the last major label merger, they wouldn't give the go ahead to a new one.
But the Times report that Bronfman seemed more optimistic about the possibility of getting regulator approval for an EMI Warner merger when he met with key investors in London last week. The paper quotes inside sources as saying the Warner chief met with several major EMI shareholders - including Fidelity and Aberdeen Asset Management - to discuss the benefits of a Warner led merger of the two major record companies.
While it is unclear how serious Bronfman is in continuing with his EMI takeover ambitions, nor what timescale such a move would take, EMI's share price rose 3.8% following reports of the investor meetings.