Terra Firma

EMI Still Trying to Avoid Citigroup's Clutches

Peter Kafka in Media on January 11, 2011 at 12:13 pm PT

Citigroup doesn’t own the record label that brings you the Beatles. Yet. But it’s going to happen sooner or later.

Saved! Terra Firma Keeps EMI Out of Citigroup’s Grasp (For Now).

Peter Kafka in Media on May 11, 2010 at 8:30 am PT

Breathing room for Guy Hands and company. Bigger question: Does it matter whether a private equity group or a bank owns one of the big music labels?

Can You Make a Living From Viral Videos? The OK Go Gives It a Shot.

Peter Kafka in Media on March 10, 2010 at 1:30 pm PT

A band that’s well-known for making great videos–but not for selling much music–splits from EMI, which doesn’t seem that upset about it.

Money Can’t Buy Abbey Road (Yet)

Peter Kafka in Media on February 22, 2010 at 6:00 am PT

Cash-strapped EMI says it doesn’t want to sell the famous studio, though it would be happy to talk to someone who wants to invest in the property. The real question: What does lender Citigroup, which may end up owning the record label, want to do?

Beatles Boost EMI. (But About That Debt…)

Peter Kafka in Media on December 14, 2009 at 7:11 am PT

The good news for EMI is that it is selling lots and lots of Beatles albums. Still! The bad news: EMI’s owner is suing its lender–and trying to borrow more money. Who said the music business was glamorous?

Shhh! EMI Posts Quietly Surprising Results.

Peter Kafka in Media on November 23, 2009 at 8:06 am PT

The people who own EMI Music Group may regret the purchase, but here’s a tiny bit of good news: Sales crept up last year. And next year’s numbers, aided by the Beatles, may be better yet.

When Will Warner Music Group Finally Buy EMI?

Peter Kafka in Media on November 17, 2009 at 7:18 am PT

Are Warner Music Group and EMI, which have been circling each other for nearly a decade, finally ready to consummate their relationship? That’s the obvious question in light of news that both Terra Firma, the private equity group that bought EMI in 2007, and Citigroup, which funded most of that transaction, have written down most of their investments in the music company.

From Google to Gone: EMI Boots Digital Boss Douglas Merrill

Peter Kafka in Media on March 23, 2009 at 1:06 pm PT

Douglas Merrill, the Google vet tapped by struggling record label EMI to run its digital operations a year ago, is out. He doesn’t have a formal replacement, but the company’s top digital exec will now be Cory Ondrejka, whom Merrill brought in as his number two. Merrill’s hire in April 2008 was supposed to represent EMI’s willingness to break free from its old CD-based businesses, and a breath of fresh air. Merrill, who had formerly been Google’s CIO, cheerfully admitted that he had no background in the music business.