The British group EMI and the US company WARNER MUSIC GROUP have announced their alliance, which creates the world's number one music publishing and production group. The two partners will set up a 50-50 joint venture called WARNER EMI MUSIC, with turnover of USD 8 billion, to oversee two joint companies based in New York and London. The new venture will represent more than 2,500 artists, produce 2,000 albums a year and own rights to more than 2 million songs.