EMI: Steep Losses and DVD-As
Citing poor sales in North and South America, EMIhttp://www.emigroup.com">EMI; reported that it lost $77.6 million during the first six months of its business year, ended September 30, compared to a loss of $44.3 million for the same period last year.
EMI's Massive Overhaul
EMI">http://www.emigroup.com">EMI Group PLC has gotten serious about surviving in a depressed market. In the wake of a disastrous multimillion-dollar payouthttp://www.stereophile.com/news/11265/">payout; to pop singer Mariah Carey, the UK music label has announced sweeping cutbacks in its workforce—including many American executives—and in its roster of artists.
EMI's Money Woes
Last year wasn't kind to UK entertainment conglomerate EMI">http://www.emigroup.com">EMI Group PLC. On February 5, the company issued its second profit warning since September, blaming a slow market for recorded music. EMI is now predicting that pretax profits for the year ending March 31 will total $213.4 million (245.1 million euros, or £150 million), far below analysts' predictions. The news caused an immediate 6.4% drop in the price of EMI shares on the London market.
EMM Labs Luxury Audio & Timepiece Showcase at Bending Wave USA
Join EMM Labs on Saturday May 31, 11am–4pm at Bending Wave USA, the new Boca Raton luxury retail location, for a special day of high-fidelity audio, fine timepieces, hors d’oeuvres, and distinctive spirits, all to celebrate the finer moments of life.
Emotiva Takes Chicago
The Emotiva “On the Road” tour makes its first stop this Saturday, April 13th, from 9am to 5pm, at the Chicago Marriott in Naperville, Illinois.
EMusic's MP3 Subscription Service: All You Can Eat for $10
The online music world has been hit by one jolt after another as the record labels go after anyone they can slap with the "music pirate" label. In response, the e-sharks smell blood and are circling. Internet music-distribution company EMusichttp://www.EMusic.com">EMusic; sent out a press release recently making the assertion that "now that Napster and MP3.com are both on shaky legal ground, many downloadable-music fans are going to be looking for compelling, 'legitimate' alternatives."
End of An Abso!ute Era?
Breaking news at the 2001 CEDIA Expo, held this past weekend in Indianapolis, IN, was that Harry Pearson, founder and editor of bimonthly high-end audio magazine The Absolute Sound, has apparently been moved to one side. According to TAS publisher Mark Fisher, with whom I spoke briefly Sunday morning on the Show floor, the day-to-day editing of the magazine will become the responsibility of erstwhile Stereophile consulting technical editor Robert Harley.
Engineer/Producer Tom Dowd Dies
Tom Dowd, a recording engineer and producer who created some of the greatest pop, jazz, and rock recordings of the 1950s, '60s, and '70s, and who ushered in the era of multi-track tape recording and stereo playback, died Sunday, October 27 of emphysema at an assisted living center in Aventura, Florida, near Miami. He was 77.
Entercom Moving onto Radio's Center Stage
A company unknown outside the broadcast industry is poised to become the next big player in radio. Entercom">http://www.entercom.com/">Entercom Communications Corp, based in Bala Cynwyd, Pennsylvania, has moved to the head of the pack in the race to buy 31 FM and 15 AM stations from Sinclair Broadcasting Corporation. The $824.5 million purchase is being financed in part by a public stock offering that Entercom floated last January.
Enzo Natali R.I.P.
Just a brief comment to note the passing on Saturday August 11 of Italian audio distributor Enzo Natali, pictured at the 2012 CES second from left above with UK distributor Ricardo Franassovici (left) and Enzo's two sons Luca and Marco (right and far right). (My thanks to Ricardo for allowing me to publish both this picture and the one below.)