In a surprise announcement yesterday EMI announced that the private equity group Terra Firma had one a takeover bid and had acquired the music label for about $4.7 billion.

This came as a relief to many after Tera Firma confirmed that the ground breaking DRM-free programs with Apple’s iTunes and Amazon’s unnamed online music store would still be in place. For the past 7 years rumors have circulated on and off that Warner Bros might acquire EMI, and such a move would have clearly ended the DRM-Free alliance.

Warner CEO Edgar Bronfman has gone on record as saying that any music under his label would have to be sold with anti-piracy measures in place.