Word: emi
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...place, Bertelsmann's subsidiary BMG Entertainment will make its music catalog available and drop out of the copyright-infringement lawsuit that Napster has been fighting for nine months. Even before the deal was announced, Middelhoff began working the phones to persuade his counterparts at Time Warner, Sony, Universal and EMI to do the same...
...other Internet providers. A Vivendi-Seagram deal would probably face less U.S. scrutiny, since most of its distribution channels would be in Europe. European regulators, however, will take a hard look, just as they said they would do last week with Time Warner's proposed buy of Britain's EMI music group. Says Marion Boucher Soper, who follows media mergers for Bear, Stearns: "[Regulators] are going to put AOL-Time Warner through every hoop they...
...last bullet, but a group of similarly accused corporate giants have decided to raise the white flag. The result: That coveted CD of Britney Spears' warblings will now be $2 to $5 cheaper at a music store near you. The music biz's Big Five - Sony, Bertelsmann, EMI, Universal and Time Warner (corporate cousin to this web site) - which control 85 percent of the $15 billion CD market, settled with the FTC Wednesday on charges that they've been leaning for years on music retailers to fix CD prices by threatening to withhold promotional budgets from stores that...
...mergers, but also a reemergence of an aggressive application of antitrust law in Washington," says TIME legal correspondent Adam Cohen. "This case, just like Microsoft, probably wouldn't have been brought five years ago." And with Time Warner not only looking to merge its music division with that of EMI but also hoping the FTC will approve its swallowing by AOL, a no-fuss settlement is an excellent way to signal to the trustbusters that it's a gentle giant. "In this climate, it doesn't want to look like it's using its size or connections unfairly," says Cohen...
...that's bad news for indie musicians. Even more ominous is the reality that the major labels are finally making their move online. In January Warner Music agreed to buy rival EMI, which has already announced plans to begin releasing digital singles and albums from its stable of artists. Jimmy and Doug's Farm Club reflects the changed environment: it's a hybrid of a traditional record label and a freewheeling, indie-friendly MP3 site. While the music of artists officially signed by the Farm Club will be promoted and marketed by Interscope or another Universal imprint (and given face...