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Record Giant EMI's New Priority is to Buy Out Label Priority Records.(Originated from Daily News, New York)
Knight Ridder/Tribune Business News, September, 1997 by Furman, Phyllis
Sep. 30--Record giant EMI has a new priority: buying out hot hip-hop label Priority Records.
In an ambitious bid to beef up its presence in black music, EMI is negotiating to snap up the 50 percent of Priority that it does not already own, music sources said.
EMI -- the international megaforce behind Virgin and Capitol Records -- bought half of Priority last November from its founders Bryan Turner and Mark Cerami, paying an estimated $50 million.
Turner and Cerami might get an even bigger windfall now. The duo are also expected to remain with the label.
Music sources said that Priority -- a massive independent label best known for propelling such superstar hard-core rap acts as N.W.A., Ice-T and Ice Cube -- is doing...
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