MUMBAI: Music companies are under difficult times. Even as they have had to compete against digital technologies and piracy, the global financial turmoil is hitting them hard.

EMI Group, put under sale by Citigroup, has got a tepid response from bidders. The bid amounts have been unattractively low as banks have been reluctant to fund these bids.

For the recorded music division of EMI, the bids have landed in the region of $1 billion to $1.3 billion. EMI?s publishing unit has drawn bids between $1.75 billion and $2 billion. While EMI enjoys a 20 per cent market share in the publishing division market (controls the copyright for the music and the lyrics), its record division has a poor nine per cent share and is the smallest among the other top four music companies. 

EMI, snapped up by Citigroup in February after a messy four-year control by private equity firm Terra Firma, was put on the block in June after a $3.5 billion debt write-off. Citi was expecting EMI to fetch $4 billion from potential buyers.

EMI?s recorded music arm has drawn offers from Warner (now owned by Russian-born investor Len Blavatnik) and the Universal Music Group. Bidding for the publishing unit are BMG Music, a joint venture between Bertelsmann and private equity firm Kohlberg Kravis Roberts, and Sony/ATV, a joint venture between Sony Corp and the estate of Michael Jackson.

Citigroup has still not decided whether it should sell EMI as a single company or split it into two arms and find investors in each of them. It may also decide to put the sale on hold till the market improves.

MUMBAI: BBC Worldwide has announced its first 3D music offerings, a chance for audiences to see their favourite artists, up close and personal in a 3D experience.

Bringing the joy of live music to a new level, Britney Spears? Femme Fatale Tour, Alice Cooper?s Halloween Night of Fear and Elbow: Live on Air will be available to broadcasters at Mipcom 2011.

BBC Worldwide VP of music television Salim Mukaddam said, "We?re really pleased that we?ve been able to secure three amazing 3D music performance titles for Mipcom. Capturing music performances in 3D brings a whole new experience to the viewer and arguably benefits from the technology more than any other genre, allowing the viewer to really feel as if they were at the live event. For BBC Worldwide to be able to launch its 3D offering with three titles of this calibre is truly fantastic."

After six million number one albums and over 100 million records sold worldwide, Britney Spears is back in her seventh concert tour, in support of her studio album Femme Fatale. Showcasing her outstanding career, playing loved classics alongside her latest hits, this is guaranteed to be one of Britney?s most entertaining shows to date.

Filmed in August 2011 in stunning 3D at the sold-out Air Canada show in Toronto, BBC Worldwide has attained distribution rights outside the USA. The 2D version will be available for broadcast from Christmas Eve 2011, with the 3D version available in February 2012.

Alice Cooper?s Halloween Night of Fear will see the performer take to the stage at Alexander Palace on 29 October for an evening of thrills, blood spills, guts and gore. The set of over 20 songs will include classics such as School?s Out as well as tracks from his brand new album. The two-hour ?as live?mix will be available on 30 October for Halloween broadcasts. .

From the creative team of ?Live From Abbey Road?, in conjunction with Universal Music Group and Air Studios, Live On Air enables the audience to experience Brit and Mercury music prize winners, Elbow like never before. The programme was shot in 3D over three days in Wakefield as the band prepared for its first headlining arena tour. As well as interviews and backstage footage, it sees them performing
tracks from their latest album ?Build a rocket boys!? as well as Elbow classics.