It's been a tough decade for the music industry. Revenues have tumbled — from more than $14 billion in 1999 down to $7 billion last year. EMI, one of the big four record labels, was taken over by venture capitalists and then taken over again, after they defaulted, by Citigroup. Now, Universal Music Group wants to buy the recorded music division of EMI for $1.9 billion. But critics say if the two companies merge it will create a superlabel that will dominate the music industry.
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And I'm Robert Siegel. After more than three decades at CNN, the company's president is stepping down. His resignation is an admission of the challenges facing the profitable but poorly rated network. NPR's David Folkenflik has that story.
President Obama is flanked Friday by congressional sponsors and officials with the American Israel Public Affairs Committee at a signing ceremony in Washington, D.C., for legislation increasing U.S. security aid to Israel.
It may have just been a coincidence that on the eve of Republican presidential candidate Mitt Romney's visit to Israel, President Obama signed legislation that increases U.S. military and security aid to the Jewish state.
But the timing was nonetheless fortuitous for the president, and showed once again the benefits of incumbency in an election year.