The British music company EMI Group Plc announced Friday that its Capitol
Records subsidiary has purchased an additional 50-percent stake of Priority
Records LLC. According to Reuters, the $70 million purchase price bought what EMI described as a leader in urban and rap music that "has a
significant position in pop and rock compilations and soundtracks." Capitol
records first bought a 50-percent interest in the Los Angeles-based
Priority label in November 1996.