EMI

  1. New York Jury Asked To Identify Lies In EMI Dispute

    October 18, 2010 12:00 AM EDT A New York jury was asked on Monday to decide who may have lied in a dispute over a Citigroup-backed, $6.4 billion buyout of legendary music company EMI by British financier Guy Hands in 2007. The outspoken Hands and his onetime Citigroup banker f ...

  2. Buyout Firm: Citigroup Cheated In EMI Auction

    October 18, 2010 12:00 AM EDT A lawyer for a British private equity firm has told a jury at the start of a civil trial that the firm was tricked by New York bank Citigroup into paying billions of dollars for the struggling music company EMI in 2007. Attorney David Boies said C ...

  3. Terra Firma's Hands in NY Trial Battle vs. Citi

    October 18, 2010 12:00 AM EDT A fraud claim by British financier Guy Hands against Citigroup Inc over his $6.4 billion buyout of legendary music company EMI in 2007 went to trial in New York on Monday (Oct. 18), the two sides apparently unable to settle their dispute out of co ...

  4. Business Matters: 'Trial of the Century' Set To Start Monday

    October 14, 2010 12:00 AM EDT Opinion and analysis of the day's music news. 'Trial of the Century' Set To Begin Monday -- It’s called the “Trial of the Century” in London and in the States it’s a pretty big deal too. Terra Firma’s lawsuit against Citigroup start ...

  5. Business Matters: Google To Help Fight Piracy?

    October 13, 2010 12:00 AM EDT Opinion and analysis of the day's music news. Google To Help Fight Piracy? -- Google has told two music industry trade groups it would have to charge a small fee to to help them track down pirated material more efficiently, reports CNET’s Gre ...

  6. EMI, Tinie Tempah Discover Hybrid Format

    September 21, 2010 12:00 AM EDT Tinie Tempah's debut album "Disc-Overy" (Parlophone/EMI) will be released in a new, hybrid digital-physical format in the U.K. on Oct. 4. Alongside traditional physical and digital releases, the album will be on sale in the form of ...

  7. BACKBEAT: EMI and Capitol Records Celebrate Release of Katy Perry's New Album

    September 01, 2010 12:00 AM EDT EMI and Capitol Records celebrated Katy Perry's new release on August 24 on the stage of David Letterman's Ed Sullivan Theatre. Katy was there for “Live on Letterman” an exclusive online concert of songs from her new album, 'Teenage ...

  8. IFPI CEO John Kennedy To Step Down

    June 24, 2010 12:00 AM EDT John Kennedy and the IFPI have announced that he will step down as CEO and chairman next month, after five years in the role. His replacement has already been confirmed. Frances Moore , EVP and regional director, Europe at IFPI, will step up to th ...

  9. Business Matters: Borders, Lala, Canada's CD Tariff, Buzzmedia, Irving Plaza and More

    June 01, 2010 12:00 AM EDT -- Borders reported a greater operating loss and an improved net loss in the first fiscal quarter ending May 1, 2010. The net loss of $64.1 million was a fair improvement over the $86 million net loss in the previous year’s first fiscal quarter. R ...

  10. Mflow Launches In U.K.

    April 15, 2010 12:00 AM EDT The social music discovery service mflow has officially launched in the U.K. It was has been operating a closed trial for 10,000 invited users since October 2009. From April 15, it has removed access restrictions, though it remains for U.K residen ...

  11. Billboard.biz Q&A: Guvera CEO Claes Loberg

    April 14, 2010 12:00 AM EDT Hoping to succeed where its predecessors have failed, ad-supported music site Guvera launched in the U.S. in late March. The Australian-based startup, along with US-based Free All Music, is part of a new breed of business model that aims to reduce ...

  12. Business Matters: Obama, Grokster, Spotify, Hollywood Records and More

    April 13, 2010 12:00 AM EDT -- On President Obama ’s short list of candidates to fill the position of departing Supreme Court Justice John Paul Stevens is federal appeals court Judge Sidney Thomas. As Ben Sheffner pointed out, Thomas wrote the Ninth Circuit’s decision for MG ...

  13. Business Matters: WMG, WaTunes, Beatport and More

    April 12, 2010 12:00 AM EDT -- Warner Music Group has signed up to download store WaTunes . This comes just as WaTunes winds down its digital distribution service in order to focus on its Facebook Music Store , a new download store built into a Facebook app. Universal Music ...

  14. More Free Music: Guvera Launches In US

    March 31, 2010 12:00 AM EDT Guvera, a free, ad-supported music download site, quietly launched in public beta phase in the U.S. on Tuesday. The company launched in Australia last month. Unlike previous ad-supported models, which offer streams or tethered downloads, Guvera wi ...

  15. BMG Rights Plans Acquisitions, Would Look At EMI

    March 23, 2010 12:00 AM EDT Thomas Rabe, CFO Bertelsmann, gave his reaction during a press conference in Berlin to a question by Billboard.biz on whether reports were correct that Bertelsmann is interested in a purchasing of parts of EMI via its BMG Rights Management operati ...

  16. 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 ...

  17. 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 ...

  18. 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 ...

  19. @Music&Money: Execs Steering Clear Of Sponsorships

    March 04, 2010 12:00 AM EST Perhaps the biggest takeaway from the “With the Brand” panel at Billboard’s Music & Money Symposium is this—sponsorships are over. “We’ve almost completely moved away from the idea of sponsorship, said Hot Topic’s chief music officer John Kirk ...

  20. Business Matters: Digital Music Forum, Lady Gaga, Sellaband, Napster and More

    February 25, 2010 12:00 AM EST -- After EMI was acquired by Terra Firma , artists began to hesitate signing with the record label. Now, The Financial Times says the company's debt load is a hindrance. "It would be very difficult to say to your client you should sign t ...

  21. BETTER KNOW A PANELIST: Venture Capitalist Timothy Komada

    February 25, 2010 12:00 AM EST Name: Timothy Komada Company: Deep Fork Capital Position: Managing Partner Panel: Who's Next? The M&A Panel (Thurs. Mar. 4, 1:45 p.m. - 2:30 p.m.). More info at Billboardevents.com. At this moment in time, what most worries you about the ...

  22. 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 ...

  23. Ad-Supported Guvera To Launch in U.S. on March 30

    February 19, 2010 12:00 AM EST Ad-supported music service Guvera announced at its New York City launch party that it will launch in the U.S. on March 30. The Australia-based company also announced at the Feb. 18 event that it has licensing deals with INgrooves, BMI, the Harry F ...

  24. 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 ...

  25. Billboard.biz Q&A: Verizon Biz Dev Director Ed Ruth

    February 08, 2010 12:00 AM EST Last year, Verizon Wireless shook up the mobile industry by revealing plans to open its network to developers with the intention of launching an application storefront similar to iPhone’s App Store. That effort will soon come to fruition with the ...

  26. Analysis: The Impact of EMI's Too-High Acquisition Price

    February 05, 2010 12:00 AM EST The main takeaway from Thursday's news of EMI's huge loss in its last fiscal year? Don't overpay for an established company in an industry challenged by technological change. As widely reported , EMI had an accounting loss of about ...

  27. Ad-Supported Guvera Launches Down Under

    February 02, 2010 12:00 AM EST Ad-supported digital music startup Guvera has quietly launched in beta mode down under. The Gold Coast, Australia-based company today (Feb. 2) revealed that its local service was activated last week with more than 40 Australian advertisers taking ...

  28. 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 ...

  29. Business Matters: IFPI Sweden, Guvera, Virgin Media, Pemberton Festival

    January 19, 2010 12:00 AM EST -- Recorded music sales in Sweden posted a big turnaround in 2009. According to IFPI Sweden , music sales were up 10.2% -- the first increase since 2000. Digital sales rose 99%, but accounted for only 16% of total sales. Perhaps not coincidentally ...

  30. Product Test: Free All Music (Beta)

    January 13, 2010 12:00 AM EST Free All Music (FAM) is the latest online start-up to offer ad-supported music to price-sensitive consumers. FAM has signed up Universal Music Group and EMI. As any student of digital music knows, a new business model can achieve media attention f ...

  31. Analysis: 5 Reasons Why 2010 Will Be Revolutionary For The Music Biz

    January 12, 2010 12:00 AM EST This year will host numerous events that could well change the course of the music industry. From the future of music giant EMI to the impact of the Performance Rights Act, many events that will occur in 2010 could have deep, long-term consequence ...

  32. Business Matters: MySpace, Imeem, Virgin Media, Google

    December 09, 2009 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- On the day MySpace Music closed its purchase of Imeem , the imeem.com domain was redirected to myspace.com/imeem and visitors were greeted with ...

  33. Photo Gallery: Vevo Launch Party

    December 09, 2009 12:00 AM EST The switch flipped on the much-hyped online music video service Vevo last night at a grand party in New York. Big-name performers included Lady Gaga and Adam Lambert, while music stars like Bono, 50 Cent, Ciara, John Mayer, Taylor Swift, Rihanna a ...

  34. Analysis: Vevo Is A Necessary Experiment For Majors

    December 07, 2009 12:00 AM EST The launch of Vevo Tuesday (Dec. 8) is a necessary experiment for major labels aiming to take a more direct role in charting their digital destiny. After years of letting video sites build a business on their content, music companies must take new ...

  35. 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 ...

  36. Citi Rejects Terra Firma's Latest Bid To Save EMI: Report

    November 16, 2009 12:00 AM EST Citigroup Inc recently rejected a proposal from Guy Hands' private equity firm Terra Firma Capital Partners to restructure the debt of music group EMI, the Wall Street Journal said on Monday. The buyout firm had offered to inject about £1 bil ...

  37. Japan Honors Industry Veteran Kei Ishizaka

    November 12, 2009 12:00 AM EST Following a long and distinguished career in the music industry, Kei Ishizaka has been awarded the Medal of Honor with Blue Ribbon by the Japanese government. Ishizaka is currently the Chairman/CEO of trade body the Recording Industry Assoc. of Ja ...

  38. EMI, Grooveshark Partner For Streaming Service

    October 13, 2009 12:00 AM EDT Digital music service Grooveshark has partnered with EMI in a deal that allows for the major label's entire roster to be streamed on Grooveshark's platform. The agreement ends a lawsuit that EMI filed against Grooveshark on May 8. Groove ...

  39. Business Matters: P2P, Spotify, The Pirate Bay, Creed

    October 02, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- A story on Tuesday had some incorrect numbers on 2009-versus-2007 decline in album sales. The correct two-year decline in album sales are: 23.9 ...

  40. Spotify To Launch Service In China

    August 12, 2009 12:00 AM EDT Fast-growing Swedish Internet firm Spotify on Wednesday announced an agreement with Chinese media conglomerate Tom Group to bring Spotify's digital music-streaming service to China. Tom Group, which already has partnerships with eBay and Skyp ...

  41. Lucian Grainge Delivers Bullish Keynote At BPI AGM

    July 07, 2009 12:00 AM EDT Universal Music International chairman and CEO Lucian Grainge gave an optimistic keynote address at the BPI's annual general meeting in London, as the U.K. trade body issued figures showing an increase of 7% year-on-year for record company re ...

  42. Briefs: Edgar Bronfman, BT, Topspin

    June 22, 2009 12:00 AM EDT -- Edgar Bronfman, CEO and chairman of Warner Music Group is profiled and interviewed in the Financial Times. Bronfman talked about the company's bond issuance ("a real vote of confidence"), multi-rights deals ("Fundamentally, ...

  43. Pirate Bay Lawyer Files For Retrial

    April 28, 2009 12:00 AM EDT Four men sentenced to jail for breaching copyright in connection with Pirate Bay, one of the world's largest free file-sharing Web sites, should be given a new trial because the judge was biased, according to court documents filed in Sweden. ...

  44. 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 ...

  45. Sweden: Hundreds Protest Pirate Bay Conviction

    April 18, 2009 12:00 AM EDT Wearing bandanas and waving Jolly Roger flags, hundreds of supporters of file-sharing hub The Pirate Bay demonstrated on Saturday against a Swedish court's conviction of the Internet site's organizers. The Stockholm district court on Fri ...

  46. Business Briefs: Spotify, Wal-Mart, Twitter, Nokia

    April 09, 2009 12:00 AM EDT -- The Performing Rights Society, an organization of British songwriters, has agreed to commercial terms with music streaming site Spotify. ( Times Online ) -- Related: Spotify has opened up its application programming interface (API) to third-par ...

  47. UMG Rolls Out Stones Reissues

    April 02, 2009 12:00 AM EDT Universal Music Group is reissuing the Rolling Stones re-mastered, post-1971 back catalog from next month. The 14-album campaign will begin with "Sticky Fingers," "Goats Head Soup," "It's Only Rock 'n' Roll& ...

  48. Google Launches Free, Legal Music Downloads In China

    March 30, 2009 12:00 AM EDT Google Inc on Monday launched free downloads of licensed songs in China, while sharing advertising revenue with major music labels in a market rife with online piracy. Lee Kai-Fu, president of Google in greater China, said one reason Google lagged ...

  49. Digital Briefs: SendMe, Spotify, NPR

    March 05, 2009 12:00 AM EST - Mobile entertainment firm SendMe scored a $12 million series D funding round, led by Triangle Peak Partners, along with GrandBanks Capital, Spark Capital, True Ventures and Amicus Capital. The company has licensing deals with Universal Music Gro ...

  50. Terra Firma Writes Off EMI Investment

    March 03, 2009 12:00 AM EST Terra Firma, the private equity firm which owns EMI, has written off €1.365 billion ($1.718 billion) in its investments. The lion's share of that impairment charge is reportedly down to EMI, which it acquired in August 2007 for £2.4 billion ( ...

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