Citigroup Takes Over EMI

EMI, one of the big four label groups, has been sold to Citigroup. The group was sold by Terra Firma, an equity firm that had bought it in 2007 for $4.2 billion. The label group was acquired in a debt for equity swap, which reduces EMI’s debt from 3.4 billion...

Documents: EMI Was Almost Broken Up

According to court documents filed in New York, the chairman of Terra Firma Capital Partners Ltd., owners of  EMI Group, proposed to break up the music company in November. Guy Hands proposed splitting the group’s music publishing and recorded music divisions in...