Tuesday, May 11, 2010

EMI On Life Support, But Still Breathing

According to the Wall St Journal, Terra Firma (which ironically translates to solid earth), the private equity group that bought EMI a few years ago, has rallied another $150 million from investors to keep the entertainment company from defaulting (for the time being) to Citigroup. Who are these investors and isn't there something a little more stable or innovative they could be putting their money behind? The article goes on to say that the company will probably be split and they will sell off the different divisions, which seems about the only logical thing it can do besides slashing overpaid executive salaries.

1 comment:

  1. Hey Paula ~
    I'm glad I stumbled upon your blog. I'm a rock musician here in NYC, and I'm managing/promoting my band independently. It's challenging but also seems to be effective; there's precious little that labels can offer young bands these days. I've read "Appetite For Self-Destruction" as well, which really shed light on the mystery of the music industry.

    If you have a moment, perhaps you can check out my band: www.vanguardvillains.com. I know that nothing is free in this industry, but obviously, tips and advice are much appreciated!

    I'll be keeping an eye on your blog!