Time-Warner - EMI Merger

Time Warner and Britain's EMI Group announced today they are merging their music businesses into single unit to be called Warner EMI Music. The two companies will both hold a 50% share, but Time Warner will hold a majority of seats on the board and will have control of the new entity. The new firm would represent 2,500 musicians including such artists as Van Morrison, Eric Clapton, Madonna, Phil Collins and REM. NPR's Jim Zarroli reports.

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