EMI in Play, Accepts Bid From Terra Firma

[JackSpratts]

EMI, the international music conglomerate with artists such as the Beatles, Robbie Williams and Norah Jones, has accepted a $4.7 billion takeover bid from the private equity firm Terra Firma Capital Partners.

Though EMI officials are recommending the board proceed with the deal it doesn't mean Terra Firma will wind up with the company. Outside analysts believe the recording and publishing giant is now in play and that higher bids may emerge, perhaps from different sources.

EMI was recently in the news when it made a deal with Apple to sell DRM-free music files.

- js.