The following is an internal memo from EMI’sElio Leoni-Sceti to his staff: Dear all: Over the past couple of days, there have been some misleading and inaccurate media reports about EMI’s financial position. You may receive questions from artists and business partners. The facts are as follows: EMI’s financial structure EMI has an extremely...
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The Wall Street Journal reported last week that Terra Firma had to put up another $44.8 million to bail out EMI. Of course everyone at EMI didn’t know about it because they’ve been forced to cancel their subscriptons to the WSJ in cost cutting moves. So this brings Terra Firma’s investment in EMI to...
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I happened to notice a little story on Reuters newswire the other day about Guy Hands having to buy out several of Terra Firma’s investors who were desperate to bail out of their capital commitment to the fund. An old friend who spent decades in upper management at EMI and I were chatting about...
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The Music Void
