The rumors that Capitol and Virgin were about to merge into a single unit were true…Here it is folks…………….
EMI is merging its North American pop, rock and urban operations. The company today announced plans to combine its Capitol and Virgin labels into a single unit called The Capitol Music Group. Jason Flom who joined EMI as chairman/CEO of Virgin in November 2005–is named chairman/CEO of the new organization. He reports directly to EMI Group CEO Eric Nicoli and will now oversee the combined Capitol and Virgin rosters in the US.
Capitol president/CEO Andrew Slater is stepping down from his post of six years.
The shakeup is part of EMI Group’s recently announced effort to deliver $217 million in annual savings across its business.
VirginÂ has signed Australian alternative act Sick Puppies. The video
‘All the Same’ created a viral buzz that resulted in 9 Million+ views to date and a record deal. Is the concept of the video a smash? or is theÂ song a smash? Check them out on myspace, the rest of the material is pretty good, especially My World. If you want to be rock band, you need to write songs like My World.
In other news…….
Spiral Frog an ad-supported music service that caused a media frenzy may be falling apart. The CEO along with 6 other employees were fired. Sprial Frog was backed by Universal. According to the Times ‘A lack of deals with other major record labels, as well as a shortage of cash, may have been reasons why Mr Kent, the former chief executive of Universal McGann, the advertising agency, had been asked to leave.