April 9, 2007 -- Warner Music Group may pursue a merger with EMI Group, the world's third-largest music label, by appealing directly to EMI shareholders. EMI last month rejected a $4.1 billion bid from Warner, saying the price was "inadequate."
Warner is eager to push ahead with a bid because the European Commission's review of a merger between Sony Corp. and Bertelsmann AG offers an opportunity to reshape the industry, the Sunday Times of London reported. Warner is also concerned that EMI may be making a "grave mistake" in agreeing to scrap copyright protection software on music sold through Apple Inc.'s iTunes online store, the paper reported.
EMI's lineup of artists ranges from the Beatles to Coldplay, James Blunt and Gorillaz. Warner's roster of musicians includes Green Day, Madonna and the Red Hot Chili Peppers.
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