Senior executives at record label EMI and US rival Warner Music were said today to be preparing for preliminary talks over a £4bn-plus merger.

A battle has broken out between one of the world’s leading record companies and Apple, producer of the popular iPod music player.

Warner Music Group announced 1,000 job cuts and a shakeup of top management today, one day after Edgar Bronfman closed a deal to buy the company from Time Warner Inc.

MUSIC group EMI could face a takeover move from a US private equity group if it fails in its bid for the recorded music division of Time Warner, according to reports.

Music group EMI could face a takeover move from a United States private equity group if it fails in its bid for the recorded music division of Time Warner, according to reports.

VIVENDI Universal’s dream of landing a $14 billion cash-rich deal for its US entertainment empire is fast evaporating with final bids likely to fall short of the mark, sources involved in the auction said.

Drinks giant Allied Domecq has held secret merger talks with privately-owned rum distiller Bacardi about a deal which would value the combined group at around £10bn, according to reports today.