EMI pulls out of radio business with sale of GWR stake
– EMI, the world's third largest music company, has sold its 13.3 per cent stake in the radio holding group, GWR, to institutional investors for £81.4 million.
– EMI, the world's third largest music company, has sold its 13.3 per cent stake in the radio holding group, GWR, to institutional investors for £81.4 million.
The sale is part of an ongoing strategy being pursued by EMI to withdraw from non-core businesses. It is seeking to focus itself purely on music operations as it faces up to developing its business for the internet and other digital platforms.
GWR owns a network of local radio stations including GWR Bristol as well as the national UK radio station Classic FM.
