EMI, the legendary recording industry titan, is facing possible bankruptcy. The storied label responsible for releasing albums by the likes of the Beatles, Pink Floyd and Coldplay is in danger of defaulting on its debt and being taken over by Citigroup, its largest creditor.

Sony's announced agreement to buy Michael Jackson's catalog is a good bet, but still a bet -- that Jackson's durability as an idol will outweigh fans' skepticism for buying 10 more albums' worth of songs that the even King of Pop himself might not have released.

Pop-rock band OK Go is still best known for its 2006 video "Here It Goes Again," also known as "the treadmill video." Last year, when it was looking for funding to produce its stunning new video, State Farm Insurance was looking for artists to support. Here's how the unlikely marriage was born.

Lawyers for three proprietors of California-based WiseGuys Tickets, indicted on dozens of counts of fraud and conspiracy this week, argue that the company's heavy-handed tactics of snapping up tickets isn't illegal.

Just days before Jennifer Lopez was slated to serve as host and musical guest on "Saturday Night Live," Sony Music Entertainment has dropped her from its Epic subsidiary. Is this the end of the superstar era in the record industry?

Grammy voters pride themselves on being as concerned with artistry as commercial appeal, but this year, the Best Album nominees were all top sellers. In today's climate, is merely selling records considered an art?

After approving the merger of concert-promotion behemoth Live Nation and ticketing/artist-management titan Ticketmaster, the Justice Department ordered the partnership to divest a few assets. But will the conditions placate critics?

Live Nation and Ticketmaster Entertainment reportedly received approval to merge, paving the way for a titanic entertainment company handling ticketing, artist management and live music, with exclusive booking deals with over 125 venues.

New York City indie-pop band Vampire Weekend took its new album, Contra, to no. 1, evicting bad-girl pop star Ke$ha and fending off video sensation Susan Boyle. The feat signals more public interest in independent artists and labels without direct links to giant media corporations.

Consumers, propelled by the ease of buying digital songs piecemeal, have increasingly decided that the single unit of music is their unit of choice. But the music-buying audience is notoriously fickle: Just look at the momentary mania about ringtones.