EMI has asked potential bidders to submit firm offers by May 23rd.
Warner believes that EMI’s Nicoli is unwilling to sell to Warners Edgar Bronfman. Sources claim Nicoli is likely to PLAY UP the regulatory uncertainty to the board and champion the best of competing offers.
UPDATE: Private Equity Firm Agrees to Acquire EMI for about 2.4 Billion Pounds
Terra Firma Capital Partners the private equity firm, agreed to buy EMI Group in a transaction valuing the record label for the Beatles and Coldplay at about 2.4 billion pounds ($4.7 billion). (Bloomberg)
EMI Revenue (In Billions)
2007 $3.5 **
Results are due Wednesday.
Virgin Megastore will be closing stores in Chicago and Salt Lake City due to the recent woes inflicting the music biz.Â Both stores will be closing in early July.
A report published in August stated that Virgin Megastores has lost $260m in the past two years
Best Damn Thing
Total 2,475, 860
Back to Black
I’m Not Dead
*This record was about dead, but Pink came back with a strong second single giving the record life again.
Spider Man 3
*Remember when soundtracks sold?
Coma Ama Una Mujer
*The end of a ‘Pop’ diva.
Top Digital Songs
Makes Me Wonder
U + UR Hand
What I’ve Done
*Linkin Park is expected to sell 500-600k first week.
As Linkin Park released their new album, Minutes To Midnight, a debate about re-invention arose in the KOAR camp. LP first hit in 2000 with the groundbreaking album Hybrid Theory. Although rap-rock was nothing new, they did it with a level of technical proficiency and originality the genre had never seen. By the time they released Meteora, they were established as a revolutionary band; one of the most creative and talented groups in mainstream rock. That was 4 years ago. Now, after going into the studio with Rick Rubin to ‘re-invent themselves,’ one can’t help but wonder why they’re fixing something that wasn’t broken.
The trouble that artists run into, especially those with a massive impact on pop culture, is that their sound is so closely associated with a time and place, staying true to what worked in the past may not work in the present or future. Artists in this position have 3 options: evolve, re-invent or call it a day. Of course, evolution is ideal. Fans who truly believe in an act want to know how much better the music can be when artists elaborate on what made them great and explore new corners of their potential previously unknown. Green Day, for example, surprised Dookie fans who thought they had a pop-punk formula by exploring anything andÂ everything that tickled their musical fancy, even landing success with an acoustic ballad. Though their popularity waned temporarily over the years, they stuck to their guns and continued their evolution. The fans returned, bringing even more people with them, resulting in Green Day’s first #1 record in 2004. Green Day had the balls to redefine ’3 chord punk’ and it paid off for them.
Linkin ParkÂ could have gone the way of Green Day, exploring what they’re really capable of and letting their musical curiosity lead them down a path of ingenuity, but they insteadÂ opted for re-invention. Madonna-style. Madonna has made her entire career on re-invention. The reason she is successful at it is because sheÂ operates in the pop world, where it’s here today andÂ gone tomorrow. Constant change andÂ endless marketing is crucial toÂ achieving longevity for solo performersÂ in the flash-in-the-pan world of Top 40.Â For mostÂ bands at that level, however,Â re-invention isn’t a realistic option. ItÂ can cheapen your past success and force you to lose relevance (e.g. Metallica).Â
The highly contested third option of ‘quitting‘ is not necessarily a bad thing. What’s wrong with stopping? It would be like if Clapton stuck with the Yardbirds or Peter Gabriel stayed in Genesis. Their individual legacy as musicians didn’t hinge on the success of one project, and it’sÂ their collaborations with other great artists and involvment in a variety of projects that make their stories so rich and interesting. If Linkin Park never made another album after Meteora, would it have lessened their impact on rock music, or would it have been seen as going out on a high note? Would the individual members go on to create music with others that is just as important or even more so than what they made in Linkin Park? It’s never too late for that to happen, but is damage being done to the Linkin Park legacy by changing what the band is all about?
Evolution happens when natural musical instincts are followed down an unknown path. Re-invention is the conscious decision to change with a desired outcome in mind. Across the entirety of music, successful examples of both are plentiful, but the third option is not one to be overlooked. Ending one chapter allows a new one to begin. It’s evolution, but on the individual level rather than as a group. A group of creative people cannot be expected to travel down the same linear musical path indefinitely. There are twists and turns for every musician where numerous intersections and parallels should be allowed. Fear only stifles progress, so artists shouldn’t be afraid of where the unknown can take them.
American Idol needs another Shining Star…
FADING FINISH: ‘IDOL’ RATINGS DROP 8% IN WEEK… 14.7 RATING/23 SHARE FOR FOX SHOW, DOWN FROM LAST TUESDAY’S 15.5/25… SHOW HAS LOST RATINGS FROM WEEK-TO-WEEK FOR LAST 3 OUTINGS…
For the first time, a series following “American Idol” has posted a higher initial rating than the reality titan.
Big Amazon News…
Amazon the Internetâ€™s Largest Retailer Will Launch Its Digital Music Store with 12,000 Record Labels, Including EMI and in the DRM-free MP3 format. Again, no copyright protection and the music will play in any device.
To many Chefs in the Kitchen and to many directions for Kelly Clarkson….
Kelly Clarkson has been in the news of late. It seems a creative dilemma divided the label and the Clarkson camp. Kelly Clarkson is at a pivotal point, this is her chance to become the NEXT true Diva and Clive and his camp are scared as hell.
“Everybody always wants me to go in different directions. Obviously they’re a record label so they need to sell records.They want the formula writers and the formula producers that do everybody else’s stuff, and while I love some of those people… and I don’t mind working with that…I just don’t like working with someone that gives you a song and is like, ‘Oh, I wrote this for you.’ But you find out that they’ve given it to every other artist and they turned it down, you know?”
“My label literally sent me a Lindsay Lohan track from her last album and wanted me to record it for my new album. And while I like Lindsay Lohan, like I’m cool with her and I think she sings the song well… it’s already been on an album. I don’t care what pop star it is.” Clarkson was kind of offended by the whole situation. “They were just sending me stuff that was like almost insulting. I’m like, ‘You can’t even find new songs?”
He was worried that he could somehow be terminated from his position as CEO. He also feared that EMI’s Alain Levy, as number 2 in the company, could unseat him……
According to Fox News’ Roger Friedman it turns out that Edgar Bronfman Jr. (pictured) had the opportunity in February 2004 to merge the two companies, remain CEO and regroup into a powerhouse. He could have combined the Beatles with Atlantic Records’ catalog, streamlined into a mega giant and been awarded kudos from all corners.
What Went Wrong?
Papers filed as exhibits in a lawsuit brought against Bronfman outlined the whole mess as it went down. The papers come from a suit brought by former Simon & Schuster publisher Richard Snyder, whom Bronfman met over Christmas 2001 while on a family vacation in Anguilla. In 2002, Bronfman invited Snyder to help create deals for investment after the former had botched involvements with Vivendi Universal and elsewhere.
A Riff Between Bronfman and Snyder. The Drama Begins:
Snyder says that he was the architect of the Warner Music deal, and that once it was completed, Bronfman unceremoniously dumped him and refused to give him his cut. Snyder is suing for $100 million.
The proposed evidence:
The most glaring of the documents attached to the Snyder lawsuit: a letter from EMI chairman Eric Nicoli dated Feb. 9, 2004, to Bronfman and Scott Sperling of Thomas H. Lee Partners, the firm that financed Bronfman’s WMG deal and now has a controlling stake in the company. It’s titled “Proposal for Acquisition of Warner Recorded Music and Part of Warner-Chappell Music Publishing.”
The Kings Are Appointed:
In the letter, Nicoli outlines an offer to merge with Bronfman’s new WMG for $1.6 billion in cash, and reiterates a plan by which Bronfman would become CEO of the “enlarged EMI Group.” Nicoli recommends that Alain Levy, then head of EMI Music, become CEO of the Music Group and Martin Bandier become CEO of EMI Music Publishing. It’s that simple. All Nicoli asks is that his EMI executives remain in place through the new company. He reminds Bronfman that the offer, which would have solved numerous problems for both companies, expires two days hence.
Bronfman Says NO to DEAL.
Bronfman didn’t want the deal. On Feb. 11, Nicoli e-mailed Bronfman: “We understand you do not wish to pursue our offer.” He copied Sperling. Bronfman circulated the e-mail to Snyder and to his brother-in-law Alejandro Zubillaga.
He was worried that he could somehow be terminated from his position as CEO. He also feared that EMI’s Alain Levy, as number 2 in the company, could unseat him.
KOAR’s favorite My Favorite Highway who has embraced the ‘Alternate Industry’ just passed 1,000,000 plays on myspace and just sold out 2 nights in a row at Jammin’ Java. Check out these pop infectious tracks including
andThey Tried to Kill Chivalryâ€¦.
New tour dates:
May 15 – The Brewery Raleigh, North Carolina
May 18 – 1982 Bar Gainesville, Florida
May 19 – Ray’s Downtown Blues West Palm Beach, Florida
May 20 – The Hinge Cape Coral, Florida
May 21 – First Friday Overflow Tampa, Florida
May 22 – High Note Birmingham, Alabama
May 24 – Club Dash Port Huron, Michigan
May 25 – Mac’s Bar Lansing, Michigan
Contact information here.