Word: emi
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Dates: during 1990-1999
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Murdoch also lacks a music division, one of the entertainment industry's most reliable profit centers. One solution would be to acquire EMI, known for such performers as Garth Brooks and Sinead O'Connor. Or Murdoch might go after the 15% stake in Time Warner, worth about $2 billion, that the Seagram Co., which recently bought MCA and its Universal Studios, may be ready to unload. But another buyer for those shares, the phone giant AT&T, is rumored to be in talks with Time Warner...
...what really ruffled the monks' cowls was EMI's insistence on holding them to a contract the Benedictines had signed 30 years ago with Hispavox Records, which EMI later bought out. That agreement entitled them to only a flat $1,500 per record, though a small royalty was added later. "The monks say they were paid legally," says musicologist Alejandro Masso, who produced their new album, "but they also say they could have been paid more elegantly." "Ridiculous," responds EMI executive Steve Murphy. He asserts that the monks have received "substantial" royalties in excess of $40,000, adding that Buruaga...
Though Chant sold 6 million copies worldwide and grossed more than $50 million for EMI Records (whose stars range from Sinaad O'Connor to Digable Planets), Laurentino de Buruaga, the group's choirmaster, complains that the monks have earned a paltry $40,000 from it--hardly enough to patch the leaking roof over their medieval cloister. In response, the monks have followed the example of secular recording stars from time immemorial: they've switched labels. Their new CD, The Soul of Chant, was released last month by Milan Records, a smaller classical label...
According to Buruaga, Chant was a disenchanting experience for the monks even before it soared on the charts. First, EMI blundered by putting a painting of brown-robed Franciscan friars on the CD's cover instead of black-robed Benedictine monks-the ecclesiastical equivalent of putting a Yale man on the cover of the Harvard yearbook. Then, as Chant's sales took off, an overeager EMI executive flew to Silos to talk to the monks about a follow-up album. Suspicious of the machinery of stardom--and the private helicopter whirring overhead--the monks greeted the exec through a peephole...
...nine we started a Tex-Mex band." She stuck with it, spending much of her time as a teenager on the road and getting her high-school diploma through a correspondence course. In 1989 she and her band, Los Dinos, got their big break-a recording contract with giant EMI--and then began to ride the wave of Tejano music, now the fastest- growing segment of the Hispanic recording business. Her father still manages the band, which includes her brother and husband...