Reports in the UK media over the weekend suggest that Warner Music is considering a $750 million bid for EMI’s recorded music division – once the jewel in the crown of a company bleeding cash like a stuck pig. After EMI’s owner Terra Firma lost its recent court case against CitiGroup – the bankers who which they argued convinced them to pay too much for the floundering company – are believed to be pressuring Terra Firma to make the sale as part of a debt reduction program. The most obvious company to buy a part of EMI is Warner Music, headed by MIA’s father in law, Edgar Bronfman Jr. While speculation is rife about the move and Warner won’t comment, this isn’t the first time has eyed up swallowing up parts of the debt ridden label, but the sharks can smell blood and are now circling.
