Citigroup Wins, Guy Hands Loses and EMI Moves Closer to Warner

As of today four big music labels dominate the industry, but a court ruling just increased the chances that the number will shrink to three. A New York jury has ruled against Guy Hands, whose Terra Firma private equity shop owns EMI Music Group, in a suit he brought against Citigroup. Details here, but the only one you care about is that this makes it that much more likely that Citi will end up owning EMI, then selling it, most likely to rival Warner Music Group.