AIM Statement Following 6th March Board Meeting
At AIM's regular board meeting on March 6th, the directors of AIM discussed the Warner agreement with IMPALA in more detail.
The board concluded that they are broadly supportive of the Warner/IMPALA agreement. To be sure that this positive recommendation on the terms and conditions of the legally binding Heads of Agreement has the full support of AIM's members, the Board will ask the members to reconfirm their position - that mergers without remedies to the independent sector, from the EC and/or the parties - will not be acceptable to independent music companies.
AIM will canvass the membership on this principle, to ensure that any ratification of this deal is broadly in accordance with the wishes of its members, before disclosing in more detail the terms contemplated under this agreement. The Board also wishes to have extensive input into the implementation of the agreement, and would like members to have a full understanding of the role Merlin will fulfil for the global independent sector.
With SonyBMG now into the second stage of an EC re-examination of a merger, which was annulled by the Court of First Instance in July 2006, and with Universal's proposed acquisition of BMG Music publishing (also into a second stage investigation), the principles and position of the UK Independent sector are crucial to the shape of this industry in the years to come.
Over the last seven years, the independents have established that there is a voice to be heard, and an irrefutable problem of concentration in the European music market which must be acknowledged and remedied to ensure that the goals of open market access and a level playing field for fair competition are achieved.
Jeremy Lascelles, CEO of Chrysalis Music Division, and AIM's deputy chairman said, "Now that the board has had the opportunity to fully understand the details of the remedies that IMPALA has been able to negotiate with Warner, and has had a chance to discuss and debate the issues internally, a much clearer picture emerges. And it is a picture that contains a number of points that will be hugely advantageous to the independent record community."
Alison Wenham, chairman and CEO of AIM, commented, "Following the board meeting yesterday, we will now canvass our members on the principle of whether the independents should continue to oppose mergers without remedies for our sector. Yesterday's board meeting was an important step forward in the necessary process of ensuring that we act in accordance with our members' principles and wishes on all this all-important issue, and the Board's broad support for the next stage is welcomed by me."
Related News from Mi2N:
» AIM Statement Following 6th March Board Meeting
» 13 Music Label Sold to MTN
» Darcus Beese Named President Of Island Records
» ASCAP Revenues Top $1.144 Billion In 2017
» BMG Appoints New Creative Directors In Nashville
» Live.me Launches Its First Live Musical Themed Content Series
News Beat Directory
» [2018-06-23] The 2018 MIDEM Silk Road International Music Alliance Signing; International Music Industries Signing Of A Mutual Resource Sharing Agreement With Shanghai Conservatory Of Music & The China Records Group
» [2018-06-06] Screen Music Connect To Explore The Music Of Film, Television And Interactive Media; Created By James Hannigan, Award-winning Composer And Game Music Connect Co-founder, Screen Music Connect Builds On The Success Of The Sold-out Game Music Conferences
» [2018-06-05] Fred Casimir To Develop BMG's Global Recordings Business; As Well As Building BMG's European Infrastructure, Casimir Was Instrumental In Developing BMG's Recordings Business
» [2018-06-03] 13 Music Label Sold To MTN; DSN Music Spins Off Record Label To Albuquerque Music Entrepreneur's New Group
» [2018-06-02] CISAC 2018 Annual Report; A Comprehensive Overview Of The Confederation's Work To Serve 4 Million Creators And 239 Authors Societies Across The World
» [2018-06-02] MusicDish Announces A Love Electric 2018 China Tour; The Tour Will Crisscross Through China With 12 Shows In 8 Cities, Including Guangzhou, Dongguan, Zhuhai, Shenzhen, Kunming, Jiaxin, Wuhan And Beijing
» [2018-06-02] Darcus Beese Named President Of Island Records; Renowned U.K. Music Executive To Join Universal Music Group's U.S. Label Leadership
» [2018-05-17] Avant-Garde Label Maybe Noise Launches In Beijing; The Official Launch Will Be On May 26 At Magnet Theater With A Performance Supporting Its First Vinyl Release: Píng Zè
» [2018-05-04] Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour; The Tour Will Kickoff In Shanghai Where The Band Will Represent Lithuania During The Country's Signing To The Silk Road Music Alliance
» [2018-05-01] Hollywood Heavyweights Launch New Christian Music Label; Their Debut Release, Firma Collective - Songs For Every Soul, Was Produced By Mgrdichian And Mixed By The Legendary Brian Reeves
» [2018-04-30] Pop Artist Ava King Releases New Single; Paris-born Ava King Decided To Move To Beijing Where She Wrote For One Of The Biggest Chinese Movie Production Companies, HuaYi Brothers
» [2018-04-27] NetEase Cloud Music Sign Distribution Partnership With B2 Music; Chinese Music Streaming Service To Release Billboard "Best Of Asia" Album Series
follow MusicDish on