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You're right- The record companies just dont realize how things work in the digital era. The iTunes music store is not just another sales venue-- it's backed by a gutsy, competitive company. Apple has assets of $7 Billion lying around (http://www.hoovers.com/apple-computer/--ID__12644 ,period__A--/free-co-fin-balance.xhtml), which dwarfs Warner's $1.5 Billion (http://www.hoovers.com/warner-music/--ID__103153, period__A--/free-co-fin-balance.xhtml). Apple has zero debt, Warner has $1.8 Billion debt. You get the picture. Warner has a market cap of $2.9 Billion-- Apple could buy them on the open market and pay CASH! But who would want to buy a company that goes around burning bridges?
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You're right- The record companies just dont realize how things work in the digital era. The iTunes music store is not just another sales venue-- it's backed by a gutsy, competitive company. Apple has assets of $7 Billion lying around (http://www.hoovers.com/apple-computer/--ID__12644 ,period__A--/free-co-fin-balance.xhtml), which dwarfs Warner's $1.5 Billion (http://www.hoovers.com/warner-music/--ID__103153, period__A--/free-co-fin-balance.xhtml). Apple has zero debt, Warner has $1.8 Billion debt. You get the picture. Warner has a market cap of $2.9 Billion-- Apple could buy them on the open market and pay CASH! But who would want to buy a company that goes around burning bridges?