As Deadline Nears, EMI Talks With Sony Falter

LONDON (Hypebot) –
Talks to license EMI Music's vast catalog to Sony have apparently faltered. Warner Music Group never joined the talks and Universal Music Group ended its negotiations last week, according to the Wall Street Journal. EMI has been seeking as much as $150 million in an upfront payment and would likely shut down most of its U.S. operation if the deal goes through.

EMI reportedly has until Wednesday to complete any deal that would help it convince creditor Citi that it has a plan and the money to move forward.