What's EMI Up To?
Reported by simple
Seems EMI may not be as bad off as we thought they were. I mean they did pay Mariah Carey an enormous amount of money to drop from their label, and they booted Iggy Pop, Ben Harper and Perry Farrell out the door, but now they just went and payed £23 million to purchase major indie label, Mute Records which is home to Moby and Nick Cave among others. The move comes barely two months after EMI announced it was slashing its workforce by a fifth, cutting almost 1,800 jobs. In a major restructuring of its music division, the label also trimmed its roster by 25%, dropping around 400 artists.