Making Music

The merger music surrounding EMI and Warner Music is getting louder. Not only are there an increasing number of newspaper reports - the latest in the UK’s Mail on Sunday - suggesting a deal is imminent. The stock market is also betting that the UK’s EMI will end up taking over Warner. Both companies’ shares have been rising, but Warner’s have shown more fizz. In three months, they have risen 38% compared with just 9% for EMI. That looks right. EMI seems determined to run the combined entity. Me...