Heads Roll At EMI
01/15/07
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(AP) Music company EMI Group PLC announced the departure of two top executives Friday and said it expects revenues to fall at its music division after disappointing Christmas sales. Its shares dropped more than 7 percent. EMI Music Chief Executive Alain Levy and Vice-Chairman David Munns will leave the world's third-largest music company with immediate effect, EMI said.
Bridgewell Securities said the latest report confirmed fears that EMI relied too heavily on "blockbuster" album sales. [see full story for the details on that
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