The legal landscape has tilted dramatically. We have to work with everyone to discourage this.

These pleasing results, achieved in the context of a weak worldwide music market and in spite of the potential distraction of our merger discussions, demonstrate the fundamental strength and quality of EMI's businesses.

In uncertain market conditions, it remains difficult to predict the outcome for the full year. The final results will depend critically on market trends which have shown some deterioration in the past two months.

In the financial year just ending, we have outperformed the industry on the most important measures, ... In recorded music, we have enjoyed market share gains, with sales for the full year close to last year's level.

I'm not persuaded by the argument that a single price deters piracy,

I'm not persuaded by the argument that a single price deters piracy, ... I'm not persuaded of the fact that a lower price deters piracy. What I am persuaded of is that making music more convenient and better value is a deterrent to piracy.

This is not about raising prices. It's about getting the most effective charging structure.

The withdrawal of our application allows additional time to reassess regulators' concerns and to pursue solutions simultaneously in Europe and the U.S,

Today's results show that EMI Group had a successful first half, delivering significant growth in both revenues and profits, and that both our recorded music and music publishing divisions made good progress during the period,

The pessimists will say that's a problem, but our research suggest that the net effect of unbundling is a positive.