Satellite Radio Holdings wouldn’t win approval of a merger under current U.S. Federal Communications Commission rules, agency Chairman Kevin Martin said. A ban on a single owner for both satellite services written into the regulations that authorized the two nationwide licenses, Martin said. (Palazzo)
Analysts and Industry experts worry that Nicoli the new CEO of EMIÂ won’t steer the mother ship to safety. Nicoli focused on food, with a stint at sweets group Rowntree Mackintosh and then almost 20 years at United Biscuits, eight of them as CEO. Nicoli’s expertise appears to be on the business side of EMI rather than in spotting new talent and managing artists.
V2 has cut the staff including President Andy Gershon. V2 will retain the White Stripes catalog, but will no longer issue new music from artist’s including Moby and the Raconteurs. The only genre the company plans to participate in the frontline going forward is gospel. The company is looking for ways to grow business digitally.
Again, we have a problem with new music. Labels cannot fund themselves and turn profit with new music. You will continue to see the labels downsize and disappear until people are excited to purchase music again. Rather than focusing on artist development and new platforms, music industry executives continueÂ toÂ preoccupy themselvesÂ over digital distribution. Distribution doesn’t work if you don’t have consumers buying anything.
The last day is Friday for EMI’s most senior executives , the most powerful executives in the global music industry Alain Levy and David Munns. Expect hundreds of lay offs.
Chairman Eric Nicoli was hoping Robbie Williams and a Beatles remix album which were launched during Christmas could help rescue the company, but both albums dissapointed.
If artist development is not the future of the music business then major label layoffs and consolidation is.
(The Financial Times)