• The IFPI reports global music sales were down 6% in the first half of 2006. Digital sales were up 106% and now account for 11% of total recorded music sales. In the U.S., digital accounted for 18% of recorded music sales. Countries such as Japan and Italy have very high mobile shares (85% and 76%, respectively). In the U.S., online sales account for 64% of digital sales. (Read press release)

• Goldman Sachs lowered its EMI target price. It forecasts a drop of 6.5% for the first half of 2006 and flat sales for the year. (Read article at newratings.com)

• Navarre Corporation announced the effect of the Tower Records bankrupcy on its earnings. The company plans to take an after-tax charge of $0.03 per share for the quarter ended September 30th. Multiplied by the 29,951,497 shares outstanding at the end of June, that charge will be just shy of $900,000. (Read press release)

• The Tower.com website was purchased by Norton LLC, owner of music memoribilia site Wolfgang's Vault. (Read post at FMBQ)

• Columbia Records has asked veteran Steve Ralbovsky to be senior VP of A&R for its Canvasback Music. (Read article at Hits)

• A story on the Froncysyllte Male Voice Choir, which signed to Universal Music after being heard at a wedding by Daniel Glatman, the former manager of boy band Blue. (Read article at The Independent)