As many music fans are probably aware of at this point, major label juggernaut Warner Music Group announced that they are enlisting the aid of investment bank Goldman Sachs to thumb potential buyers for the company and all of its various assets. We've got two dollars in change and a bag of Cheetos.
Just kidding. We kind of wish they'd buy us. Warner is still mulling over the idea of acquiring the tea and crumpet pushers over at EMI, which makes absolutely no sense to most sane businessmen. Although we've had an excellent relationship with several Warner properties, which gave us really excellent Guest Apartment sessions like POS
, the company has been marred in criticism and cutbacks for many years. Infamous scapegoats Lyor Cohen and Edgar Bronfman Jr. seem to have already checked out as many developing acts have been dropped, staff has been slashed, and other generalities have been stated by various news outlets that seem overtly negative and bad for publicity. Bad stock prices. Wild speculation. Gum flapping on past successes and current millions of dollars of failures. It sounds like the end, but isn't Napster
still around for some reason? Who knows, maybe WMG will morph into something else.
We'd propose a few things, like buying up baby music tools like Bandcamp and using them as measurable A&R for artist development, reverting to a stripped down organization driven by powerhouse distribution channels and letting artists grow organically, and getting rid of money-sucking executives, but hey, what do we know.
In the meantime, get the scoop over at The NYT Media Decoder blog