Today, it's a household name, heard on the radio, used as an example in introductory music history classes. Though the Pistols were all but untouchable in the '70s, the band has become a pop culture staple now. This hasn't always been the case, however. Previously, the band had bounced from label to label, with the pop charts refusing to list the band by name, simply because it was so controversial. If Warner Bros. didn't do it, someone else probably would have, and the same will happen now.
Companies can merge, split, ally, buy, sell, whatever all they want to.
No matter what, people will keep writing songs, playing their instruments and creating just like before. One way or another, music will survive any corporate meddling. Just ask Johnny Rotten. Hopkins is trying to acquire the news department, so expect more Liz Phair stories on the front page soon.