Music Rewind

All About Music

EMI Caught-up?

Troubled label giant EMI is now caught in another debt-tussle: British private equity firm Terra Firma Capital Partners has proposed to Citigroup Inc that the debt of music group EMI be restructured, a request that was rejected by Citigroup.

Terra Firma had offered to pump into EMI the equivalent of USD$1.68 billion, on the condition that Citigroup waives a part of their EMI loan, a proposal Citigroup felt was not to their advantage.

Terra Firma has repeatedly injected money into EMI, in their belief that the label will eventually turn over profits like it used to. Says a Terra Firma spokesperson, “We continue to believe EMI is an excellent company and we remain committed to doing all we can in the best interests of EMI.”

Advertisements

17/11/2009 - Posted by | Music News | , , , , ,

1 Comment »

  1. Thank you,
    very interesting article

    Comment by ostrov | 03/12/2009 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: