Major record labels are suffering as cd sales keep falling, even the third largest music company, EMI, is feeling the squeeze on its profits. The company, who are responsible for artists such as Kylie Minogue and Robbie Williams, have decided to suspend their dividend payments.

In a report by RTE Business they are reported as saying "in view of the company's funding requirements, the board has decided to suspend dividend payments until the benefits of the restructuring process have been fully realized". EMI's music division is reported to be in the red and according to the UK's BBC, turnover has dropped by 8.9%. However their publishing division has been showing strong growth.

Over the last 7 years there have been several attempts to negotiate a merger between Warner, the fourth largest music company, and EMI. There were also discussions involving a merger with publishers BMG. All offers have so far been rejected and EMI looks set to continue to go it alone despite the pressure to respond to industry trends.

EMI, however, remain hopeful. They are expecting forthcoming releases from Mick Jaggar and Robbie Williams to help turn things around.

They are going to need a hell of a lot more than those two to get things back on track... No, that's right, they won't.

Welcome to the sinking ship, EMI... It's your turn.

All us indies are to blame, you know!

A Mick Jagger solo album! Oh that'll be a big seller... NOT.

I can't remember the last time I looked at the stock, but I don't recall that they were paying much of a dividend anyway. So now instead of next to nothing, investors will get nothing.

Too bad there isn't a good way to invest in pirates.

I'm thinking that, for accounting purposes, royalties will be considered as under the umbrella of what a dividend payment is this year.

They are expecting forthcoming releases from Mick Jaggar and Robbie Williams to help turn things around.

Next stop... fire sale.