Wednesday, February 2, 2011

Citigroup regain control of the multinational EMI

The banking giant Citigroup has been with EMI Group, once the private equity company Terra Firma, led by Guy Hands, has been unable to cope with a debt of 4,000 million euros. This implies that the labels EMI, Capitol, Virgin, Blue Note, Astralwerks, and what is the same, the fate of Coldplay, The Beatles, Rihanna and Kylie Minogue are back in the hands of the bank.

Bad times for poetry, as Citigroup EMI sees in a brown rather than try to get rid of it as a rooster crows, but has promised not to break away from the group in six months. In fact, the president of Warner Records, Edgar Bronfan Jr., heir to the Seagram Canadian Beverage Corporation and a lousy businessman, and aims to be with EMI.

But we will not forward events, Citigroup no change in the direction of EMI and to plug holes has transferred 350 million euros, which will be little more than pay salaries and royalties. Will you save the record year of Coldplay's good with his new album coming out in May?

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