Record label articles

eMusic to drop major record labels, return to its independent roots

Pioneering digital music store eMusic is returning to its roots. The site, whose music subscription service predates peer-to-peer file sharing service Napster, recently announced plans to exit the mainstream music business and once again only carry tunes from independent artists.

Citigroup sells EMI Music for $4.1 billion

British music company EMI has reportedly been split up and sold to two separate groups for a sum of $4.1 billion. A Sony-led group will acquire the publishing operation for $2.2 billion while Universal Music Group will obtain EMI’s recorded-music…