GMA comments on sale of Warner Music Group for 2.6 billion dollars.

IN THE light of the announcement that the Warner Music Group (WMG) is to be sold for 2.6 billion dollars to an investment group, fronted by Edgar Bronfman Jr, Gospel Music Association president John Styll has commented that he believes that the move is a positive one for the Christian music industry. He told Christian Retailing magazine, "The Christian music industry, like the rest of the music industry, has been hit hard by slowing sales due to illegal downloading, the economy and other factors. It has resulted in some downsizing at all of the companies. Having an outside investor group acquire WMG is most likely a positive development for our industry. It should mean that Word/Warner Bros Christian will not be merged with EMI CMG or Provident as might have happened under the other purchase scenarios. This will minimise consolidation within the Christian music industry which will mean maintaining the three large distribution systems and hopefully losing no more jobs." CR

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