EMI to Merge Capitol and Virgin Labels
Music company EMI Group PLC, home of The Beatles, The Rolling Stones and Coldplay, said it is merging its Capitol and Virgin labels in the United States to form the Capitol Music Group. The move continues a reorganization at EMI, which earlier this month announced the departure of two top executives and warned investors that full-year sales will be far below expectations. Jason Flom will lead Capitol Music Group as chairman and chief executive, EMI said in a statement Thursday. Flom joined EMI as chief executive of Virgin Records America in November 2005. “The music business shows exciting growth potential,… Read more »