Latest

Crazy times at EMI

News: 19th October 2010 by Louise Dodgson under Record Labels

About a year ago Guy Hands realised he made a mistake when he bought EMI 3 years ago, and as a result is taking his bank Citigroup to court over the terms of the deal. Hands claims that he was tricked into paying over the odds for the label and was led to believe that a rival bidder was waiting in the wings. The courtcase starts today so it will be interesting to see what comes of it.

Meanwhile, EMI have found some extra funding to plug the deficit in their pension payments. The Pensions Regulator insisted that the shortfall needed to be made up, and this has been yet another financial weight hanging around the shoulders of EMI.

Related Links

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8067663/EMI-moves-to-plug-pensions-hole-with-197m-funding-injection.html

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8067367/EMIs-Guy-Hands-Citigroups-David-Wormsley-and-the-fight-for-Dizzee-plc.html

http://www.telegraph.co.uk/finance/comment/8069636/Private-equity-is-good-for-business-and-the-British-economys-future.html

http://www.bbc.co.uk/news/business-11564683


Tags

emi, record label, guy hands, major label, record company, terra firma

 

Your Comments

The Unsigned Guide Spotlight: June 2024
The Unsigned Guide Spotlight: May 2024
The Unsigned Guide Spotlight: April 2024
Music Managers… what ARE they looking for?
Your Ultimate Guide to Music Branding as a Musician
The Unsigned Guide Spotlight: March 2024