The message, which you can read below, suggests that the "legal separation" of EMI's publishing and recorded music divisions - and "regulatory hurdles" faced by new EMI Music owner Universal - will cause a delay in any major operational changes to the business.

EMI owner Citigroup confirmed earlier today that the company's recorded music division had been sold to Universal owner Vivendi for £1.2bn.

The firm's publishing arm is believed to be the subject of a promising bid from Sony/ATV ...