Saturday, February 24, 2007

Indie Trade Group Impala Supports EMI/WMG Merger, Ministry of Sound Protests

Ministry of Sound, the UK's largest indepedent record label, has walked out on the European indie music trade group Impala, after it pledged its support for a possible takeover of EMI by Warner Music Group. The merger would bring the number of major record companies to only 3, furthering consolidating an industry monopoly into the hands of several large multinational corporations.
“The previous mergers of Universal/ PolyGram and Sony/BMG have dramatically affected our level of support at retail, access to media, ability to license major-owned catalogue for our compilations and pricing,”said Mr. Lohan Presencer, the managing director of Ministry of Sound Music Group.
And according to an article in the New York Post, "up to a half dozen other independent labels are considering resigning" as well. This merger could be detrimental to the music industry, especially given the differing views between Warner's Bronfman and EMI on DRM (note: in the proposed deal, Warner would be swallowing up EMI, not the other way around).

(Via TimesOnline)

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