Snapping up EMI
p2pnet view P2P:- “Citigroup Inc., which is expected to seize control of EMI Group Ltd. from beleaguered financier Guy Hands (right) in coming months, has already made contact with parties that could quickly snap up the historic music company — and Mr. Hands himself is even among them.”
So posteth Rupert Murdoch’s Wall Street Journal, going on:
“At the end of March, EMI’s performance is expected to fall short of the targets in its roughly £3 billion ($4.79 billion) of borrowings from Citigroup. If, as expected, Mr. Hands fails to come up with the nearly £200 million required to make up for the shortfall, the business will go to Citigroup.”
If you want to read any more of this, you’ll have to pay the WSJ for the privilege, it being a forerunner in stunts to monetise online news, with the New York Times recently following suit.
And while you debate whether or not reading further is worth your hard-earned cash, Warner Music owner Edgar Bronfman jr has been after EMI since, like, forever.
Even though he’s just been ordered to pay $6.8 million for his alleged involvement in an insider trading scandal, and the fact he’s trying to sell WMG at the same time as he tries to buy EMI
That’s the corporate music bidniz for you.
Wall Street Journal – Citigroup Seeks Buyer for EMI, January 28, 2011
following suit – Pay Me! – says the New York Times, January 24, 2011
insider trading scandal – WMG’s Edgar Bronfman jr fined $6.8 million, January 21, 2011
trying to sell WMG – For Sale by Owner: Warner Music, January 21, 2011
First they ignore you, then they laugh at you, then they fight you, then you win ~ Mahatma Gandhi
World War III will be a global information war with no division between civilian & military participation ~ Marshall McLuhan
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