Blue note: Warners wants no second date with EMI

EMI‘s proposal to acquire Warner Music for a little more than $4 billion has been rejected.

The offer is a slight premium over Warner’s current market value, which Bloomberg points out “is $4.05 billion based on yesterday’s closing price, 61 percent more than the initial public offering value in May 2005” but then adds that anti-trust concerns derailed previous mergers.

This strikes us as a bit funny, since it appears that despite their current size, the record companies are powerless to negotiate with Apple’s iTunes.

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