Music Gear News
Citigroup could put EMI up for sale
Citigroup could be putting the struggling record label EMI up for sale, after announcing that it was exploring a number of "strategic alternatives".
EMI, which is home to such music stars as Coldplay, Katie Perry, Pink Floyd and acoustic guitar player Richard Ashcroft, was taken over in February by the investment bank.
The label was previously owned by the Terra Firma Company, which is a private investment equity firm.
In a statement issued last week by EMI, the company said that it had begun a process of exploring and evaluating various alternatives, which included a "possible sale, recapitalisation or initial public offering of the company".
However, the statement added that "there can be no assurance that this strategic review process will result in a transaction".
Emi is currently the fourth largest music label in the world, which generates an estimated £1.6 billion in annual revenue.
Although the company had posted positive earnings before depreciation in 2009 and 2010, business dealings between owners left EMI with massive net losses.
The industry is speculating that Len Blavatnik, the Russian billionaire who is currently in the process of taking over Warner Music, might be the leading figure to take over EMI.
This would form somewhat of a music-supergroup never before seen in the music business.
Save Money Now And Buy Online Today
Posted on 22 Jun 2011 11:20 to category : Music News
Related Music News
With the advent of various new files formats and the cancelling of several licensing programs, the MP3 is speculated to soon become a thing of the past.
JBL Professional has launched a competition that gives aspiring musician the opportunity to record in a professional facility with renowned producer Steve Levine.
Delivered by Choreographer and Theater Director Arlene Phillips, The Bacc For the Future campaign has acquired support of over 100 hundred influential figures
On the 22nd of April, Pink Floyd will be releasing an unheard version of the iconic classic 'Interstellar Overdrive' in celebration of world record day
With an increased quality of specifications right across the board, Apple's eponymous 'iPad' will host a whole generous selection of great new features.
Supported by the likes of Ed Sheeran, Royal Blood, Wolf Alice and many more, Fanfair Alliances new educational guide is available for free download online.
Recent Music News
The latest addition to the illustrious range of Katana Amplifiers, the Katana-Mini guitar amplifier brings classic BOSS tone in a portable and lightweight design
Today's second pedal release from BOSS for Roland's 'Future Redesigned' campaign, the MD-500 is the latest comprehensive workhorse for the modern musician.
The most advanced reverb pedal to come from BOSS to date, the RV-500 pedal promises a wealth of tone shaping options and professional grade versatility
Using the feedback from the guitar player community Walrus Audio has devised a new and improved pedal that eliminates the pitfalls of its predecessor.
After the release of the Hall of Fame 2 and Pipeline Tap Tremolo Pedals, TC Electronic's Flashback 2 promises for unprecedented expression and otherworldly tone.
Looking to get that perfect take? M-Audio's M-Track 2X2 Vocal Studio Pro gives you professional standard recording capabilities in a robust and compact format.