Simon Says EMI Break-Up OK

SIMON SAYS YES TO CONSOLIDATION: Simon Cowell gives a thumbs-up to the absorption of EMI’s recorded music and publishing companies into Universal Music Group and Sony/ATV, respectively. In an interview with the U.K.’s Evening Standard, Cowell said: “I think consolidation does make sense when record sales are falling.” He also warned the major record labels needed to change their business models radically or risk collapse. “We aren’t a music company,” said Cowell, referring to his Syco, which produces the TV shows X Factor and America’s Got Talent as well as releasing music. “Ten years ago, we realized we couldn’t stay as a record company, so we created a TV company. Now the TV business is creating an ancillary business. That’s what all of the music companies have got to do with their artists or they are not going to survive.” (4/17p)