The target business consists of the worldwide music publishing activities of the EMI Group
The availability of the Beatles' hit albums like Sgt Pepper's Lonely Hearts Club Band, Revolver and Abbey Road is expected to give a boost to digital music sales this quarter and could possibly save their long-time record company EMI Group
from defaulting on its debt in March, according to a person familiar with the situation.
The announcement that the Beatles were making their legal web debut on iTunes came from Apple Corps, the Beatles' company, EMI Group
, their record label, and Apple, maker of the Macintosh computer, the iPod, iPhone and iPad.
LOS ANGELES: Paul McCartney said on Tuesday he would reissue his extensive post-Beatles catalog through independent label Concord Music Group, dealing a blow to his former distributor, the struggling EMI Group
The site already has a catalogue of more than 4 million songs, amongst which can be found top selling records, including records from Universal Music Group, SONY BMG ENTERTAINMENT, Warner Music Group and EMI Group
, independent record labels and new national talent, the company said.
Earlier this week owner Guy Hands, Terra Firma's chief executive and EMI group
chairman, complained that EMI had 19 managers, marketing executives and lawyers for every talent scout in the group.
Mr Nicoli and Mr Stewart will be replaced by Terra Firma's Chris Roling, who takes on the post of chief operating and financial officer, and Ashley Unwin, who becomes director of business transformation for EMI Group
and EMI Music.
was Quick to quell reports that EMI Group
CEO Eric Nicoli was ankling and that new owners Terra Firma had begun an executive search.
Four major music labels--Universal Music Group, Sony BMG Music Entertainment, EMI Group
and Warner Music Group--and their sub-labels or "imprints" account for more than four out of every five songs sold in the U.
Warner Music has said it has not yet ruled out making another bid for the EMI Group
The Associated Press reported that London-based music company EMI Group
PLC and Mexico's Grupo Televisa will form a new joint venture record company in Mexico and a U.
Universal Music, Sony Music, Warner Music, Bertelsmann's BMG Music and EMI Group
, plus retailers Musicland Stores, Trans World Entertainment and Tower Records, admitted no wrongdoing and said they had not practiced MAP since 2000.