Citigroup

  1. Financial Round-Up: EMI, WMG, Live Nation, HMV and more

    September 17, 2010 12:00 AM EDT The latest round-up of earnings re-caps: EMI Here is the lone example of an annual earnings report. In August, EMI’s private equity owner, Maltby Capital (which was set up by Terra Firma), released an annual report that offered two important numbe ...

  2. Business Matters: Terra Firma, Citi, Best Buy, Fee For Radio and more

    September 15, 2010 12:00 AM EDT Opinion and analysis of the day's music news. Terra Firma, Citigroup Head To Court Next Month -- On Tuesday a New York judge ruled that Terra Firma's lawsuit against Citigroup will go to trial next month. The court will hear only two of ...

  3. Terra Firma, Citigroup Clash Ahead Of Court Case

    September 08, 2010 12:00 AM EDT Terra Firma and Citigroup have each filed new court documents ahead of a hearing in New York this week as part of a long-running fraud case brought by EMI Group's private equity owners. In its documents, Terra Firma alleges Citigroup was resp ...

  4. Private Groups Acquire Alliance Ent.

    September 01, 2010 12:00 AM EDT Alliance Entertainment, the second largest music wholesaler in the United States, has been acquired by two private equity firms, Platinum Equity and the Gores Group. Financial terms of the transaction were not disclosed. Alliance Entertainment is ...

  5. Business Matters: Live Nation, Terra Firma, eMusic and more

    August 19, 2010 12:00 AM EDT Opinion and analysis of the day's music business news. -- Has Live Nation’s stock bottomed out? After closing at $8.43 on August 11, the company’s shares have inched upward and closed at $9.09 on Wednesday. Before last week, Live Nation had c ...

  6. Business Matters: Terra Firma, Last.fm, Clear Channel and more

    July 27, 2010 12:00 AM EDT TERRA FIRMA SUIT AGAINST CITI GOES FORWARD IN U.S. -- In case you were wondering why Citigroup wasn’t able to have Terra Firma’s lawsuit thrown out earlier this year, the judge released an opinion on Monday that outlined the reasons for his decisi ...

  7. Business Matters: Terra Firma, MySpace, Skyline and more

    July 02, 2010 12:00 AM EDT REPORT: TERRA FIRMA OKs FUTURE FUNDS -- A report says Terra Firma has approved a resolution on June 10 that would allow it to inject another £500 million ($759 million) into EMI Music. That resolution gives EMI parent company Maltby Capital the ri ...

  8. Business Matters: Pandora, Faxon, Apple and more

    June 21, 2010 12:00 AM EDT PANDORA DOMINATES -- Pandora dominates Internet radio with a 28% share of the over-12 Internet population, according to figures by Arbitron and Edison Research. Among heavy social networkers, Pandora has a 40% share. That creates a competitive adv ...

  9. EMI Ups Roger Faxon To Group CEO

    June 18, 2010 12:00 AM EDT Roger Faxon , chairman and chief executive of EMI Music Publishing since 2007, has now been put in charge of the recorded music division, too. EMI announced the appointment today as part of an overhaul of the management structure "to enable t ...

  10. Business Matters: Google Music Store, Don Henley, The Orchard, 'If I Can Dream' and more

    June 15, 2010 12:00 AM EDT GOOGLE MUSIC STORE COMING IN FALL? -- Google's music store could be on its way later this fall, CNET's Greg Sandoval reports. Citing multiple industry sources, Sandoval says the service could have both downloads and streaming music. &quo ...

  11. Business Matters: Terra Firma, 'Glee,' Wolfgang's Vault and more

    May 28, 2010 12:00 AM EDT Follow Glenn Peoples on Twitter or e-mail him at gpeoples AT billboard.com. -- A source close to Kohlberg Kravis & Roberts (KKR) denied to the Financial Times the buyout firm has been in talks with Terra Firma . “There are no discussions betwe ...

  12. Report: Terra Firma In Talks to Sell Stake in EMI Music Publishing

    May 27, 2010 12:00 AM EDT On Thursday the New York Post reported that Terra Firma is in talks to sell a stake in EMI Music Publishing. One participant in those talks is Kohlberg Kravis Roberts, which would buy a minority stake in EMI’s publishing division and combine the o ...

  13. Business Matters: Terra Firma, Vivendi, HMV Group and More

    May 14, 2010 12:00 AM EDT -- Reuters reports Terra Firma has given Citigroup a compliance certificate , a notification of its plan to inject additional equity to meet its debt covenant. Terra Firma does not need to hand over the money until June 14. But the specifics on th ...

  14. EMI Confirms Terra Firma Equity Cure

    May 14, 2010 12:00 AM EDT EMI has confirmed that it will receive "additional sums" from Terra Firma and its investors - thought to be £105 million ($153 million) - that will avoid a breach of the major's loan covenant with Citigroup. Maltby Capital, the inve ...

  15. Report: Terra Firma Secures EMI Funds

    May 11, 2010 12:00 AM EDT EMI Group owner Terra Firma Capital Partners has reportedly secured investors' approval to raise £105 million ($156 million), to avoid a breach of the major's loan covenant with Citigroup. Terra Firma needed the support of 75% of its inv ...

  16. Business Matters: Guy Hands, EMI, Apple, Music Lockers and More

    May 03, 2010 12:00 AM EDT -- Guy Hands has reportedly chosen to raise £105 million ($160 million) – far lower than the £360 million ($548 million) Terra Firma recently set as a target – and has little time to do it. Terra Firma’s largest investors have given a verbal commi ...

  17. Business Matters: PlayMPE, EMI, CD Baby, WMG and more

    April 26, 2010 12:00 AM EDT - PlayMPE , a digital delivery system used by labels to service promotional music, was hacked last week and a number of albums were leaked as a result. AbsolutePunk posted an email PlayMPE sent a letter to one of the band’s whose release had been ...

  18. Terra Firma To Ask EMI Investors For Much More

    April 20, 2010 12:00 AM EDT Guy Hands' Terra Firma Capital Partners plans to ask investors to put a further £360 million ($555 million) into EMI - three times the amount Terra Firma previously indicated would be needed to make up shortfalls against the loan covenants. A ...

  19. Judge Denies Citigroup's Effort To Dismiss Terra Firma Suit

    March 24, 2010 12:00 AM EDT A judge has denied Citigroup's effort to dismiss a lawsuit filed against the company by Terra Firma. Citigroup had filed a motion with the U.S. Federal Court in the Southern District of New York to move the venue to London. In its lawsuit, Te ...

  20. Business Matters: Bertelsmann CFO On EMI, Rabid Neurosis and More

    March 23, 2010 12:00 AM EDT -- Bertelsmann 's CFO has expressed tempered interest in the music publishing assets of EMI . "If EMI is on the market, we will look at it," Thomas Rabe said on Tuesday (March 23). "But I'm not aware that EMI is currently ...

  21. Report: EMI In Licensing Talks To Raise $601 Million

    March 22, 2010 12:00 AM EDT EMI is in talks to allow rival labels to manage its back catalog in order to raise funds and prevent a takeover from its lender, reported the Sunday Times. EMI, owned by Guy Hands' private equity group Terra Firma, is trying to put in place a ...

  22. KKR, Warner Music Eye Break-up Bid For EMI: Report

    March 15, 2010 12:00 AM EDT Private equity firm KKR and Warner Music Group are in talks to launch a break-up bid for Warner's indebted British rival EMI, reported the Sunday Times. The paper said KKR is interested in acquiring the music publishing arm of EMI, which it s ...

  23. Pink Floyd Wins U.K. Court Battle With EMI

    March 11, 2010 12:00 AM EST Pink Floyd won its court battle with EMI on Thursday (March 11) with a ruling that prevents the record company from selling single downloads on the Internet from the group's concept albums. The outcome of a dispute over the level of royalties ...

  24. EMI Watchers Praise, Critique Leoni-Sceti Legacy

    March 10, 2010 12:00 AM EST While it's unclear whether EMI Music CEO Elio Leoni-Sceti resigned effective March 31 because he jumped or because he was pushed, industry insiders say EMI Music chairman Charles Allen’s expanded executive role has come to the right man at th ...

  25. Second Lawsuit Filed Over Terra Firma’s EMI Acquisition

    March 05, 2010 12:00 AM EST Citigroup is being sued by Colorado-based Sungate Securities, an investor in Terra Firma, over allegations the bank hid conflicts of interest during the sale of EMI, according to Bloomberg . This is the second lawsuit surrounding Terra Firma’s 4 b ...

  26. Report: EMI Brings In Director

    February 26, 2010 12:00 AM EST EMI has appointed Peter Williams to the board of one of its holding companies, as its buyout house Terra Firma tries to sort out the loss-making record label's finances, the Daily Telegraph reported on Friday (Feb. 26). Williams, a former bos ...

  27. EMI Says Wants To Hold On To Abbey Road Studios

    February 22, 2010 12:00 AM EST EMI wants to retain ownership of the Abbey Road recording studios, immortalized by the Beatles album of the same name, though it is talking to other parties about revitalizing the site, the major said. A source familiar with the situation told Reu ...

  28. Report: EMI Puts 'For Sale' Sign On Abbey Road

    February 16, 2010 12:00 AM EST Abbey Road, the iconic London recording studios, has been put on the market by EMI, according to the Financial Times. EMI declined to comment to Billboard.biz on the prospective sale of the studios, immortalized by the 1969 Beatles album of the sa ...

  29. NYC Pensions Helped Finance Terra Firma's EMI Deal

    February 12, 2010 12:00 AM EST While much attention is set firmly on whether or not Terra Firma's ownership of EMI will be torpedoed by the 2.7 billion pounds ($4.23 billion) it borrowed from Citigroup, the investment firm is not the only institution with funds at risk in ...

  30. Business Matters: EMI, Citi, Suzanne Vega, Tunewiki and More

    February 08, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. Follow Billboard senior analyst Glenn Peoples on Twitter at twitter.com/billboardglenn . -- The behind-the-scenes dealmaking involved in the EMI a ...

  31. EMI Posts Full-Year $2.48 Billion Net Loss

    February 04, 2010 12:00 AM EST EMI Group, at the centre of an acrimonious legal dispute between buyout house Terra Firma and Citigroup (C.N), posted a full-year 1.56 billion pound ($2.48 billion) net loss and said it needed more money to stay afloat. The deal by Guy Hands' ...

  32. Guy Hands Orders New EMI Strategic Plan, Huge Loss Expected

    February 04, 2010 12:00 AM EST Guy Hands has asked EMI Music chief executive Elio Leoni-Sceti to draw up a new plan for the recorded music company, in order to persuade Terra Firma investors to inject a reported £100 million ($158.5 million) of additional investment. The Financ ...

  33. Business Matters: Definitive Jux, Vivendi, Guy Hands and More

    February 03, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. Follow Billboard senior analyst Glenn Peoples on Twitter at twitter.com/billboardglenn . -- Hip hop label Definitive Jux is going on a hiatus. As ...

  34. Amazon Blows By Estimates, Sees Strong Q1

    January 29, 2010 12:00 AM EST Amazon.com Inc blew past analysts' profit estimates in its closely watched holiday quarter and forecast revenue for early 2010 that topped already-high Wall Street expectations. The world's largest online retailer has been viewed as a wi ...

  35. Business Matters: Spotify, VC Funding, Citi, EMI and More

    January 22, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. Follow Billboard senior analyst Glenn Peoples on Twitter at twitter.com/billboardglenn . -- " Spotify is a very sustainable financial model&q ...

  36. Business Matters: EMI, Citigroup, VC Funding, Stock Wrap and More

    January 11, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- EMI passed the year-end test required by Citigroup , the bank behind Terra Firma's acquisition of the music company, according to a report ...

  37. Citigroup Says Not Seeking Buyers For EMI

    December 22, 2009 12:00 AM EST Citigroup said it was not seeking buyers for EMI, whose owners Terra Firma are suing the U.S. bank for billions of dollars in damages relating to its 2007 buyout. The statement came after the Observer newspaper reported on Sunday (Dec. 20) that Ci ...

  38. Report: Citigroup Moved For EMI

    December 18, 2009 12:00 AM EST According to the Financial Times, Citigroup tried to take control of EMI before Terra Firma launched a legal action against the bank. The paper reports that in September Citigroup proposed a debt-for-equity swap that would have given the bank a ma ...

  39. Terra Firma Expects Citigroup To Share EMI 'Pain'

    November 19, 2009 12:00 AM EST Private equity firm Terra Firma expects Citigroup to share in the pain of restructuring music business EMI, according to Guy Hands, the buyout firm's founder and chairman. Citigroup, which holds EMI's debt of about £2.6 billion ($4.3 bil ...

  40. Business Matters: Citigroup, EMI, IFPI, Pandora

    September 28, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- Citigroup has been trying to shed its troubled loans, reports the New York Post, sometimes by forcing companies into bankruptcy. What's th ...

  41. Business Matters: EMI, The Pirate Bay, UMG

    September 21, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- According to a report at Financial News, EMI 's performance has improved to the point it will not require a capital infusion from lenders ...

  42. Business Matters: Guy Hands, EMI, Sony Music, Rhapsody

    August 17, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- The Wall Street Journal’s Aaron O. Patrick wrote a very thorough overview of Terra Firma 's struggles with EMI . Notably, the private equi ...

  43. Briefs: Terra Firma, Joel Tenenbaum, Spotify

    July 30, 2009 12:00 AM EDT -- Terra Firma investors have approved a £300 million ($495 million) equity injection into EMI . The injection may be part of a larger refinancing move, still months away, that would repay some of the debt owed to Citigroup. "Citi, which face ...

  44. Briefs: Live Nation-Ticketmaster, Anti-Piracy In Sweden

    July 14, 2009 12:00 AM EDT -- The UK Competition Commission, an independent public body that investigates mergers and regulated industries, announced yesterday it is looking into the Live Nation-Ticketmaster merger. “If the inquiry group considers that the merger may be exp ...

  45. Briefs: Ticketmaster, Obama, Bopaboo, Spotify

    June 10, 2009 12:00 AM EDT -- Time magazine took a good look at the proposed Ticketmaster-Live Nation merger , what a former FTC assistant director called "the first test case in the Obama Administration." Luke Froeb of Vanderbilt University explained how the merg ...

  46. Carphone To Buy Tiscali U.K.

    May 08, 2009 12:00 AM EDT British telecoms and retail group Carphone Warehouse has agreed to buy the British assets of Italian Internet service provider Tiscali for £236 million ($355.6 million) in cash, free of debt. Tiscali, with more than €600 million ($805.2 million) i ...

  47. Business Briefs: Terra Firma, Lucien Grainge, P2P, UMG

    April 20, 2009 12:00 AM EDT -- The Guardian questioned Terra Firma's financing of its deal with EMI, which came years after Guy Hands demonized debt securitization. The last of Terra Firma's blockbuster deals was its acquisition of EMI. Citigroup provided £2.6 bill ...

  48. EMI Increases Revenue, Narrows Loss

    January 30, 2009 12:00 AM EST EMI Group has reported increases in revenue and EBITDA for the six-months ending Sept. 30, 2008. Group revenue was up 10% to £737 million ($1.06 billion) from £667 million ($960.9 million) in the period ending Sept. 30, 2007, while group EBITDA ea ...

  49. Report: Terra Firma Considers EMI Cash Injection

    December 08, 2008 12:00 AM EST Terra Firma has recently put about £10 millon ($14.8 million) into EMI in order to prevent the major defaulting on its £2.7 billion ($4 billion) Citigroup loan, according to the Wall Street Journal. The report says that Terra Firma may have to inj ...

  50. Billboard Q&A: Top EMI Music Execs Talk

    November 14, 2008 12:00 AM EST When Billboard arrived at EMI's famed Capitol Tower in Hollywood to interview new recorded music CEO Elio Leoni-Sceti, we got a surprise: joining Leoni-Sceti were president of A&R for North America, the United Kingdom and Ireland Nick Gat ...

Pages