Following this decision, Universal Music Group also announced sales of DRM-free track (which turned into described as an test).
In May 2006, EMI tried to shop for Warner Music Group, which could have reduced the sector’s 4 largest document companies (Big Four) to three; but, the bid was rejected. Warner Music Group released a Pac-Man defence, imparting to buy EMI. EMI rejected the $4.6bn provide.
Terra Firma takeover
After a dramatic 7% decline in the British marketplace percentage, from 16% to nine%, and the declaration that it had sustained a loss of £260 million in 2006/2007, in August 2007 EMI was acquired through Terra Firma Capital Partners, which purchased it for £four.2 billion.
Following the transition, several artists which includes Radiohead left EMI, at the same time as other artists which include Paul McCartney had left in advance of the takeover. At the same time, the Rolling Stones signed a one-album cope with Interscope Records/Universal Music Group out of doors of its settlement with EMI, which expired on February 2008, and then in July 2008 signed a new long term address Universal Music Group.
The Terra Firma takeover is likewise pronounced to were the catalyst in the back of a lawsuit filed by Pink Floyd over unpaid royalties. In January 2011 Pink Floyd signed a new global settlement with EMI.