As Deadline Nears, EMI Talks With Sony Falter
Talks to license EMI Music's vast catalog to Sony have apparently faltered. Warner Music Group never joined the talks and Universal Music Group ended its negotiations last week, according to the Wall Street Journal. EMI has been seeking as much as $150 million in and upfront payment and would likely shut down most of it's U.S. operation of the deal went through.
EMI reportedly has until Wednesday to complete any deal that would help it convince creditor Citi that it has a plan and the money to move forward.