If you’ve covered the music business as long as some of us there are some news cycle days a decade or two apart which seem to merge seamlessly into each other.
For instance EMI, the storied label and publishing home to artists from the Beatles to Coldplay, seems to have permanently been on sale since time began and sometimes you just wish it would be over as a journalist. With each potential transaction there’s the subterfuge and speculation of unnamed deal sources guiding journalists which way the deal might go and this tends to drag on and on for a while.
So you can can imagine our surprise when a press release crossed the wire this afternoon announcing ex-Universal Music and ex-Warner Music executive Jim Caparro has teamed up with Alliance Warburg Capital Management to make an offer to buy all of EMI Group ‘s music and publishing units.
It was almost too good to be true, which meant we had to ask ourselves a few questions:
1) How come Caparro (now chief executive of Yamani Global Equities) hasn’t ever come up in previous discussions with anyone we’ve spoken with about this process.