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EMI’s Potentially Life-Saving Licensing Talks Not Going Great…

EMI Group Ltd is struggling to reach a deal to license its catalogue of recordings, with Sony Corp (6758.T) on the verge of pulling out of discussions with the British music company, the Wall Street Journal reported on Tuesday.

EMI, which is owned by private-equity firm Terra Firma Capital Partners Ltd, has been seeking a deal in which one of its rivals would license and distribute its music in the United States in exchange for an upfront payment of up to $150 million, the newspaper said.

But Warner Music Corp has not been in talks with EMI and Vivendi SA (VIV.PA) broke off talks last week, the newspaper said.