Music Gear News

At Gear4music.com we update our news channel daily to ensure you always get the latest and most important music news.

Citigroup could put EMI up for sale

Investment bank Citigroup may consider putting EMI up for sale.
Great deals on musical instruments

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

 ADNFCR-2133-ID-800590150-ADNFCR

Posted on 22 Jun 2011 11:20 to category : Music News

Related Music News

thumbnail

Research from the National Association for Music Education has recently highlighted the most fundamental aspects of an effective practice routine and how to be a better musician

30 Dec 2016 15:56
thumbnail

MusicRadar recently spoke to iZotope to get their opinion on intelligent mixers and how they are impacting the contemporary producer.

29 Dec 2016 13:11
thumbnail

The grandfather of virtual reality Jaron Lanier relays a time when the first explorations into virtual reality were concerned with how to create a real air guitar.

28 Dec 2016 16:46
thumbnail

In the wake of an increasing trend for musicians having to work for free or for less than they're entitled to, the Musicians Union show their support.

22 Dec 2016 12:01
thumbnail

Some formats of compressed MP3 have been linked with negatively effecting individuals emotional state due to their inherent tonal characteristics

8 Dec 2016 13:04
thumbnail

Featuring a whole host of professional grade components, Antelope Audio's Zen Studio is available now at an incredibly discounted price.

17 Nov 2016 09:53

Recent Music News

thumbnail

Iconic Zakk Wylde bullseye design? Check. Monstrous and uncompromising tone? Check. The Odin Grail Genesis guitar delivers the goods to the metal masses

17 Jan 2017 13:40
thumbnail

Utilising state of the art recording and playback operation, the Fireface UFX II interface combines premium quality manufacturing with next level audio quality

17 Jan 2017 13:02
thumbnail

Also providing updates to their Masters, Signature, Giant Beat and Signature traditional lines, Paiste spill the beans on their NAMM 2017 releases.

16 Jan 2017 13:54
thumbnail

Revealing their new range of highly affordable S series, Gibson dish the dirt on their 2017 Line up including the Traditional Series, High Performance Series and more.

16 Jan 2017 13:11
thumbnail

Ideal for those players who flourish in an intuitive education environment, Flowkey puts you in charge of your learning offering a variety of insightful tools.

13 Jan 2017 16:14
thumbnail

The Sonzera series consists of a 50W combo, 50W Head and 20W combo.Used by Black Stone Cherry and Snarky Puppy, expect professional grade tone right off the bat

13 Jan 2017 13:25