HITS Daily Double


Label Is Home To Multiple Grammy-Winners Steely Dan… And Earth To Andy!
Warner Music Group is in negotiations to purchase the remaining 50% stake of Irving Azoff's Giant Records, home to recent Grammy-winners Steely Dan.

According to the Los Angeles Times, Azoff is scheduled to meet with WMG CEO Roger Ames in the near future to discuss a possible sale. Azoff has been considering selling his share of Giant since he began expanding his artist management business last year, the Times reports, citing sources, which are unfamiliar with how much WMG is willing to pay for the company.

As part of its restructuring after merging with AOL, Time Warner's WMG is also is also considering buying out Madonna and her partners in Maverick Recording Co., or ordering cuts at the label, according to the Times.

Industry insiders are quick to point out, however, that WMG has been the source of much rumor mongering over the past few years, and reports of downsizing, label closings, purchases, executive shuffling and other business moves at the company have not been confirmed by those in the know.