THE MUSIC INDUSTRY IS SHRINKING DAY BY DAY: WMG MAKES A BID FOR EMI…

Warner Music Group is planning to make a $750 million bid for EMI Music Group‘s recorded music division, and could file a proposal with Terra Firma within the next few weeks, according to a Billboard.biz report. The report follows Terra Firma‘s recent loss in its trial against Citigroup over the private equity firm’s acquisition of EMI Group in 2007, which found that Citigroup was not guilty of fraud in the 2007 buyout auction in which Terra Firma purchased EMI for $6.26 billion. (11/15)

via GRAMMY.com

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