Universal Music CEO: Will Offer 'Manifesto' to Restore Music Industry Growth -FT
July 10 2012 - 5:11PM
Dow Jones News
The chairman and chief executive of Universal Music, Lucian
Grainge, said he will offer a "manifesto" to regulators in the
coming weeks that will outline measures to restore growth to the
music industry, The Financial Times reports on its website
Tuesday.
Mr. Grainge said Universal was willing to sell off assets to
assuage fears that the proposed tie-up with EMI's recorded music
business could pass 50% market share in some countries, the FT
said.
Citing a person familiar with the details, the FT also reported
that Mr. Grainge said his plan would increase investment to develop
new artists.
Mr. Grainge said the "manifesto" would include a "new way" to
work with digital start-up platforms, and added that Universal was
working on a "pro-consumer" package of concessions, the newspaper
said.
Website: www.FT.com
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