February 14, 2013 |
Universal Music Group has entered into an agreement to sell Sanctuary Records -- home to such rock and heavy metal acts as Black Sabbath and Megadeth -- for $62 million, according to a person with knowledge of the transaction. The sale, to BMG Rights Management, a Berlin music publisher, is part of divestitures mandated by the European Commission as a condition of approving Universal's acquisition of EMI Group. Universal has sold EMI's Parlophone, whose acts include Coldplay, Radiohead and David Guetta, to Warner Music Group for 487 million pounds (about $754 million)
February 17, 1998 |
Roy Lott, former executive vice president of Arista Records, has been named deputy president of EMI Records North America, the domestic arm of EMI Group, home to such pop stars as the Spice Girls, Rolling Stones and Garth Brooks. Lott, who worked at Arista for nearly 19 years, is expected to take over the post March 16 and will report to Ken Berry, president of EMI Recorded Music, the British conglomerate that includes such record labels as Virgin and Capitol Records.
September 7, 2006 |
British recording company EMI Group said it had signed an agreement with SpiralFrog, an ad-supported music downloading website, to provide U.S. Internet users with free access to the world's largest music catalog. Financial details weren't disclosed. New York-based SpiralFrog signed a similar agreement with Universal Music Group last month.
April 15, 2006 |
Sirius Satellite Radio Inc., the No. 2 U.S. pay-radio service, reached an agreement with EMI Group resolving concerns over a portable music player that lets users record and organize songs from digital radio. EMI Music North America and Sirius "resolved the issues" over Sirius' S50 portable player, Adam Grossberg, a spokesman for London-based EMI, said in an e-mail without providing details of the agreement.
February 1, 2007 |
EMI Group named two executives to its new Capitol Music Group, created last week with the combination of the Capitol and Virgin labels. Lee Trink was named president of Capitol Music and Jeff Kempler chief operating officer, reporting to Jason Flom, who was appointed chairman and chief executive of the group Jan. 25, EMI said. Both were executive vice presidents at Virgin.
April 16, 2003 |
Facing growing concerns among investors over boardroom compensation, music company EMI Group said it was scrapping controversial severance terms for two of its top executives. The British company said Chairman Eric Nicoli and Finance Director Roger Faxon would receive one year's severance pay instead of two in the event that they lose their jobs in a change of ownership.
January 30, 1998 |
EMI Group is about to renew the contract of Jim Fifield, president and chief executive of the British recording conglomerate, which is home to such pop stars as Garth Brooks, Janet Jackson and the Spice Girls. Representatives of Fifield and EMI declined comment, but sources say the 59-year-old executive is slated to sign a multimillion-dollar pact to run the company until 2002.
March 23, 2004 |
Debt backed by royalties of British recording artist David Bowie was cut three levels by Moody's Investors Service because of a drop in music industry sales. The rating on $55 mil- lion in debt by Jones/Tintoretto Entertainment Co., which issued the bonds, was reduced to Baa3 from A3. The reduction completes a review begun in May, New York-based Moody's said in a research note last week.
May 25, 2005 |
British music giant EMI Group posted a profit for fiscal 2005 after shedding underperforming artists and reorganizing its labels to counter a decline in recorded music sales. EMI, which owns Virgin and Capitol record labels, earned 56.3 million pounds ($103.2 million) for the year ended March 31. That contrasted with a loss of 71.6 million pounds the year before, which reflected an 84.5-million-pound restructuring charge. Revenue slipped to 1.94 billion pounds ($3.