EMI set to make music with Time Warner purchase

EMI and Time Warner were yesterday reported to be in talks over the creation of a music powerhouse to bring some of the industry’s biggest names under one roof.

The Sunday Times said London -based EMI had offered $1.5 billion for Time Warner’s music business in a tie-up that would create the world’s second largest music group behind Universal.

Among star names at EMI are Robbie Williams, Norah Jones and Kylie Minogue, while Warner Music Group has Madonna, Red Hot Chilli Peppers, Craig David and Missy Elliott.