• Free File Share Technology Cuts Profit at EMI

  Filed under Piracy
  Dec 22
  

  Free file share technology has cut profits at EMI Group Ltd. The company, which Citigroup Inc. currently owns, says it will consider putting itself up for sale as a strategic alternative.

  For reference, EMI Group Ltd is famous for producing such classics as Pink Floyd and the Beatles. The board will consider a possible IPO or a recapitalization of the London-based company. EMI is one of many record labels who've found that file sharing sites are cutting into their profit margins. Warner Music Group was recently acquired by wealthy investor Len Blavatnik in a deal which, including debt, was worth more over $3 billion. Due to interest expressed by various parties in the Warner deal, analysts expect a sale of EMI to draw many bidders as well, including Mr. Blavatnik.
  

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