Music Week reports that the court recognized the band's 1999 contract which specified that EMI could only sell Pink Floyd music as albums are also covered digital downloads. In other words, it prevents EMI from selling individual Floyd tracks online, which would be a potential financial windfall when the company needs it most.
That being said, it's also been reported that EMI may be put out of its corporate misery any day now, with creditor Citibank taking it back to sell off the parts in the hopes of covering some of the debt. The latest buzz has BMG Rights Management making off with EMI Publishing and Warner Music Group ending up with the catalog rich record group.
On one hand, it's such a shame that such a storied company could meet such an inglorious end. On the other, this is a case of over-reaching greed reaping a sad reward for EMI owner Terra Firma.
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