Music giant EMI struggles to stay afloat


  • Business
  • Saturday, 01 Mar 2003

ON stage, the EMI Group dominated this week's Grammy Awards with five big wins by its newest star, Norah Jones. Behind the scenes, however, the debt-ravaged British music giant is scrambling to stay afloat.  

For the last several months, EMI executives have quietly pursued a seemingly schizophrenic survival strategy, courting Germany's Bertelsmann Music Group with a pledge to merge, while approaching AOL Time Warner Inc with a plan to buy the conglomerate's huge music operation.  

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