EMI sales slip on weak release schedule
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EMI has blamed a weak release schedule for a failure to exploit an improvement in the music sector, with sales falling by more than four times the industry average.
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Global sales of recorded music slid 1.3 percent in the first half of 2004, but the rate of decline was slower than in previous years, a leading industry group said Thursday.
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British music group EMI urged its  shareholders on Wednesday to start selling to private equity  group Terra Firma after long-term suitor and rival Warner Music  Group finally ruled out a counterbid.
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EMI Group, the world's third-biggest music company, may sell or demerge its recorded music division as part of a radical overhaul of the firm to reverse falling profits, a newspaper reported.
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Warner Music Group Corp  on Friday posted a fourth-quarter profit, but revenue sagged in line with broader weakness in the recorded music and music publishing businesses.
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Though CD sales are down in the UK, a large increase in music downloads is picking up the slack.
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LOS ANGELES (Billboard) - The holiday mood at independent  music retailers is one of cautious optimism, despite Nielsen  SoundScan numbers showing that overall sales at U.S. indie  merchants were down 7.1% from last year as of Nov. 28.
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'Too slow, too low' EMI's board today rejected an approach by Warner Music Group, saying the price was too low and the format of the bid too cumbersome.â¦
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Warner Music Group has decided not to make an offer for British rival EMI Group, the company said in a statement on Tuesday, but left open the possibility of a bid in the next six months.
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Global music sales slipped again in 2004, but after four years of declines the record publishers will see the return of growing revenues in 2005 due to online stores and music DVDs, a survey found on Monday.
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A swing to growth in US album sales and surging consumption of music on DVD helped slow the decline in first-half global sales of recorded music, the trade body for the world&#39;s largest record companies said Thursday.
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EMI Group PLC, one of the world&#39;s biggest music companies, reported a small loss for the first half of its fiscal year Friday but said it expected an improvement in the second half which will reflect the release of several new albums that
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EMI Group, the world's third-biggest music company, has issued its second profit warning in little over a month, blaming the move on an &quot;unprecedented&quot; decline in US sales of compact discs.
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EMI overcame an 11.4 per cent fall in sales to deliver increased profits and margins in the six months to the end of September, it announced yesterday.
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Music giant EMI sees profits fall in the first half of the year after opting to delay its major releases.
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Although the record companies raked in $2.9 billion in revenue from digital music sales in the past year -- up 40 percent -- the collapsing CD market is dragging them down.
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Record label EMI, bought by private  equity firm Terra Firma last year, is set to announce on Monday  plans to cut as much as one third of its 6,000 staff, slash  marketing costs and drop artists as part of a restructuring,  the Wall Street Journal reported.