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AT the beginning of this month EMI launched another attempt at marrying its business with US music rival Warner Music Group in a bid to compete on an equal footing with the likes of Sony-BMG and Universal.
But EMI
DJones
Warner Music Group (WMG: NYSE) By Morgan Stanley ($27.88, May 17, 2006)
WE ARE UPGRADING Warner Music Group to Equal-Weight [from Underweight] with a new, $25 price target [up from $17].
DJones
that Nicoli and chief executive Alain Levy could overpay for Warner and are concerned that a gap has opened up between the two sides about the level of cost savings that could be extracted after a merger.