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EMI [Electric & Musical Industries]locked

  • Peter Martland

Extract

British record company, with additional interests in music publishing and electric and electronic goods.

In June 1931, during the Great Depression, shareholders of the Columbia Graphophone Company and the Gramophone Company agreed to merge and form a new undertaking, Electric and Musical Industries Ltd (EMI). Although both were British-registered companies, most of the shares were owned or controlled by American interests, 43% of the Gramophone Company by RCA Victor and 80% of Columbia Graphophone by the New York bankers J.P. Morgan. Pressure from these investors, who favoured the merger to better protect their investments, compelled the British management to accept this measure....

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The New Grove Dictionary of Music and Musicians