Warner Looking for Potential Buyers, Universal Plans Layoffs

Two of the four major record companies are looking to make some big changes. It was recently revealed that Warner Music Group has hired Goldman Sachs to seek out potential buyers, while Universal Music Group has announced planned layoffs for today (January 21).

The New York Times reports that, although WMG is looking to be acquired, it is also still actively trying to buy out British label EMI. Warner is the parent company to both Atlantic and Asylum Records whose roster of rap artists include T.I., B.o.B, Lupe Fiasco, Gucci Mane and Waka Flocka Flame, among others.

According to The Hollywood Reporter, Universal will let go of around 60 staffers in North America today. “The current economic climate dictates that we continue to look for more efficient ways to run our business,” read a statement sent to THR. Universal’s umbrella includes Interscope, Def Jam and Universal Motown—home to such artists as Eminem, Dr. Dre, Kanye West, Rick Ross, Kid Cudi and Nelly. —Elan Mancini

  • http://www.youtube.com/amsamuel DownSouth

    Dang, I hate it for the ones gettin laid off. It’s def no fun. It’s like we are just imploding, and I feel it’s because of greed, hate, jealousy, etc. If only the world could become overcome with love (sighs)

    DOWN SOUTH!!!

  • http://www.bboycult.com Don mcCaine

    the mainstream rap chapter 11 restructuring has begun…those 60 ain’t gonna be the only ones sent home either…

  • http://www.myspace.com/slotchmusic ms_spittuh

    Maybe things will go back to the way of the 90s? I don’t know. But I know how it feels to be unemployed. I’ve only had 2 interviews in 2 years. Its hard. But keep your heads up!

    • TUNED2IT

      Keep doin’ yo thang baby girl! Keep networking and Keep motivated and poly hard on them fools. Good things come to those keep it movin’ God bless. 1luv

    • Q461

      Yo Ma keep ya head up its cold out there…. Everybody I know is strugglin…this economy is so fucked. Hold ya head tho…I firmly believe better days await for us all…..

  • pap3rchazer

    smh why the hell did the author mention rick ross among eminem, dre n ye like he’s sold millions

    • http://www.bboycult.com Don mcCaine

      because regardless of what you think about Ross, he’s employed by the same suits as your faves…no shots but truth…

      @ ms_spittuh

      keep grinding ma…clik the name and hit me with the email…

      Harlem World where u at pimpin’? Come drop some of that knowledge fam…

      • http://harlemworld.wordpress.com New HarlemWorld Order

        whaddup Don

        Doug Morris is running to Sony and EMI is in huge debt

        Universal will fire the creative depts to cut costs – they never fire the finance dept of accountants/analysts

        • Don mcCaine

          wow…Doug to Sony? hmmm…

          I see why Warner wants EMI, the masters of both companies will make BMG/KKR cut a big check. As for Universal, I knew they were gonna get busy, there’s a new boss and the Comcast deal for NBC went thru.

  • max moola

    yeah it might suck for the pencil pushin office dwellers of the industry, but I’m sure t.i., kanye and the likes we be quite alright. plus look at dudes like wiz. u need talent before all. the internet is the new record label…