jimac51
New Member
Today Sony and BMG signed a letter of intent to merge their two music divisions. A new company 50-50 owned by both,it will not include music publishing,manufacturing or distribution. How this new company will evetually look is up for speculation,but sales offices will definitely be shuttered and executives will be left go. The new company, to be just a bit smaller than Universal,will be led by BMG's music chief,Rolf Schmidt-Holtz(as chairman of the new board) with ex-NBC chief Andrew Lack(now there is an appropriately named music executive) the new CEO. While this goes forward(subject to US & Europeon approval),EMI gets a little closer(and a little more anxious)to take Time Warner's music divison under its own. Survival of the fewest...Mac