New York - Warner Music Group has decided not to make an offer for fellow major record label EMI, ending a long-running courtship and leaving EMI shareholders to deal with a rival $4.9 billion bid from private equity firm Terra Firma that the company accepted several months ago.

EMI shareholders had been waiting to see if Warner would make a higher bid, and for the most part have refused to sell their shares to Terra Firma.

EMI on Wednesday urged its shareholders to start selling to Terra Firma, Reuters reported.

Terra Firma said last week that it had received acceptances from shareholders owning 3.82% of EMI.

Related Links:
http://tinyurl.com/2jun97 (Reuters)

http://www.emigroup.com/Financial/Proposed+acquisition/Default.htm