Time Warner and EMI scrap merger
Time Warner and UK-based EMI Group have abandoned their proposed plan to combine their respective music interests to appease the European Commission.
Time Warner and UK-based EMI Group have abandoned their proposed plan to combine their respective music interests to appease the European Commission.
The commission was reported to have wanted to block the proposed deal, partly because of the Time Warner’s plan to merge with America Online (AOL), which it feared could create a superpower in the online music distribution market.
Time Warner and AOL’s $145bn merger is now expected to go ahead. European competition officials were ready to approve it before EMI entered the equation.
EMI and Time Warner said they would continue to work with regulators to seek other ways of comining.
Eric Nicoli, EMI Group chairman, said: ‘We continue to believe that a joint venture with Warner Music Group can create substantial value and provides the opportunity to build a unique, Anglo-American owned music company.’
This article first appeared on vnunet.com.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article