EMI Merges Capitol and Virgin

In an effort to deliver $217 million in annual savings, EMI is merging its North American pop, rock, and urban operations. Capitol and Virgin will now be consolidated to form The Capitol Music Group with Jason Flom–who joined EMI as chairman/CEO of Virgin in November 2005–being named chairman/CEO of the new organization. Capital president/CEO Andrew Slater is stepping down after six years at his post. http://www.billboard.biz/bbbiz/content_display/industry/e3i5047ab3e2ae429347c9a7bcb64ba7dfc