Terra Firma acquiring EMI for £3.2 billion

EMI is the first major music company to be offering their music catalog without any kind of DRM on the Apple iTunes store.

The company has now confirmed that they are now being acquired by private equity firm Terra Firma for £3.2 billion.

EMI had recently rejected an acquisition bid by rival music company Warner Music. Warner has been quite vocal against the DRM free music being sold on the online stores.

EMI has yet not commented on what would happen to their DRM free music policy now that they are being acquired by Terra Firma.

They represent some well known artists like The Beach Boys, Pink Floyd, Janet Jackson, Robbie Williams, Depeche Mode, Iron Maiden, The Rolling Stones, Al Green, Moby and Queen.

This acquisition would require approval from the company shareholders. The directors in the company have given their support.