---
title: "EMI Acquired For US$6B – Digital and Online Strategy to “Accelerate”"
date: 2007-05-21
author: "Richard MacManus"
categories:
  - name: "ReadWriteWeb"
    url: "/category/readwriteweb.md"
tags:
  - name: "2007"
    url: "/tag/2007.md"
---

# EMI Acquired For US$6B – Digital and Online Strategy to “Accelerate”

![](https://web.archive.org/web/20100818014642im_/http://www.readwriteweb.com/images/ebay_logo.png)The [BBC reports](https://web.archive.org/web/20100818014642/http://news.bbc.co.uk/2/hi/business/6677875.stm) that EMI Group has agreed to be bought by private equity firm Terra Firma for £3.2bn including debt, which is around US$6.3B. The deal isn’t confirmed yet, because it is subject to shareholder approval. As BBC noted, EMI’s sales have been in decline of late – the company reported a £260m loss in the past year. But interesting to note that EMI chairman John Gildersleeve listed EMI’s digital and online strategy as a major reason to sell, because the cash injection will “accelerate the development of its digital and online strategy to fully exploit this long-term growth opportunity”.

You’ll recall that EMI announced a compelling DRM-free offering [in early April](https://web.archive.org/web/20100818014642/http://www.readwriteweb.com/archives/emi_music_drm_free.php), a move backed by Apple. I have met a few EMI people at past Web 2.0 conferences and I know they have a great deal of interest in web-enabling their music catalog. So EMI’s moves in the digital and online arenas are positive. However I should also note that Coldplay’s latest CD, X&Y;, has been the only CD I haven’t been able to put into my iTunes collection recently! And Coldplay are one of EMI’s biggest acts (under their Capitol Records label). So there’s still room for improvement 😉

In any case, let’s hope EMI’s digital drive continues under their new owners. As yet there is little sign of the other big record companies offering DRM-free music, so EMI has been a leader alongside Apple on that front – and for that reason, I’d hate to see them go under.

*Originally published on ReadWriteWeb ([archived copy](https://web.archive.org/web/20020204040018/http://www.readwriteweb.com/archives/emi_acquired.php))*