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Warner Music Italy Mints Broad-Based Joint Venture

Tuesday, February 12, 2008
by  presnikoff

Broader music models make sense in any language, including Italian.  This morning, Warner Music Italy announced the creation of a new joint venture, one that will involve touring, advertising,  television, and new media assets.  Ferdinando Salzano - currently managing director of Friends and Partners - will head the initiative, according to the label.  Friends and Partners, a subsidiary of Live Nation, is a live performance heavyweight in the region.

A number details remained unresolved.  Warner has yet to disclose the name of the venture, though operations will being in the summer.  "I see this agreement with Ferdinando as a very important step in the continued transformation of the record business as it becomes an industry of wider scope, covering all the various aspects of the music value chain," explained Massimo Giuliano, chairman and chief executive of Warner Music Italy.  The company will be majority-owned by Warner Music Italy.



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