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NEW YORK (Fortune) -- EMI, one of the world's largest record companies, is considering turning over its distribution, sales and marketing operations in the United States to a rival in an attempt to cut its extensive losses, music industry sources said Friday.
Three industry sources told Fortune that the storied British company - whose catalog includes the Beatles, the Beach Boys and Coldplay - is talking to Warner Music (WMG), SonyBMG (SME) and Universal Music Group about assuming these functions in the U.S. Those companies declined to comment.
Monday, November 03, 2008
EMI U.S. TO BE TAKEN OVER BY ONE OF THE BIG FOUR
This may come as no surprise for anyone who has been following EMI's financial troubles in the past year, but it certainly strengthens the likeliness of the Big Four becoming the Big Three and eventually the Big Two in the near future. Especially with Warner's falling stock.