EMI

  1. Hands Recalls Banker, Biscuits On Eve of EMI Bid

    October 20, 2010 12:00 AM EDT Chocolate biscuits and a disputed telephone conversation with a Citigroup Inc banker friend -- that is all the detail British buyout house boss Guy Hands said he could remember on Wednesday about a board meeting the day before his ill-fated May 20 ...

  2. No Paper on Key Citigroup Calls, Hands Tells Trial

    October 20, 2010 12:00 AM EDT Terra Firma buyout house chief executive Guy Hands testified on Wednesday he had no paper trail to support his allegations that a Citigroup Inc banker friend lied to him in three May 2007 phone calls about bidding for iconic music company EMI. Ask ...

  3. Terra Firma vs. Citi Day 2: Did Allegedly False Info Lead To Inflated EMI Price?

    October 19, 2010 12:00 AM EDT In the second day of the Terra Firma/Citigroup trial in New York, lawyers for the plaintiff tried to show how allegedly false information provided by Citigroup helped to stampede the private equity firm into paying an inflated price of 4 billion p ...

  4. False Assumption Led To EMI bid, Hands Testifies

    October 19, 2010 12:00 AM EDT Guy Hands bid for storied music company EMI in 2007 based on false statements from a Citigroup banker that there was a rival offer he had to beat, the British financier told a jury on Tuesday. Hands, who founded Terra Firma Capital Partners, took ...

  5. Terra Firma vs. Citi: Trial Opens With Battle of Dueling Timelines

    October 18, 2010 12:00 AM EDT The first day of testimony in Terra Firma's lawsuit against Citigroup began as a battle of dueling timelines. In questioning Terra Firma's Tim Pryce, who is currently CEO for the investment firm but was general counsel at the time of its ...

  6. 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 ...

  7. 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 ...

  8. Business Matters: EMI, Jammie Thomas, 'Napster Moment' For Ebooks

    October 18, 2010 12:00 AM EDT -- The Terra Firma-Citigroup case starts in a New York City court today (Oct. 18). If the case is going to court, that means the two sides didn't reach the settlement that some in the media were painting as a real possibility before the trial ...

  9. 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 ...

  10. EMI Reaches Deal On Pension Fund

    October 15, 2010 12:00 AM EDT EMI Group has reached a funding agreement with the Trustees Board of the company pension fund. In a statement, EMI said a multi-year payment plan has been agreed to provide £197 million ($316 million) in additional funding including an immediate £ ...

  11. Retail Briefs: NARM, Heavy Rotation Records, Alliance Entertainment

    October 08, 2010 12:00 AM EDT -- The National Assn. of Recording Merchandisers and the Country Music Assn. will produce an Entertainment Law Conference in Nashville on Nov. 9. The keynote will be an interview with U.S. Register of Copyrights Marybeth Peters , who will discuss ...

  12. Cheryl Cole, JLS and Gorillaz Triumph At BT Digital Music Awards

    October 01, 2010 12:00 AM EDT U.K. pop acts Cheryl Cole, JLS and Robbie Williams were among the big winners at the BT Digital Music Awards, held in London last night (Sept. 30). Out of the 21 awards on offer, pop dominated the evening, with Cole -- who was not present -- winni ...

  13. EMI Wins Promo Sales Tax Case

    September 30, 2010 12:00 AM EDT EMI has won a six-year legal battle on VAT (sales tax) charged on promotional CDs in the U.K. Other music companies should lodge a claim with tax officials for refunds on any overpayments, according to tax accountants. The European Court of Justic ...

  14. Mute Goes Indie Again, EMI Keeps Depeche Mode

    September 22, 2010 12:00 AM EDT EMI Music and Mute found Daniel Miller have reached an agreement over the future of the label, which will once again be independent - albeit with a label services deal with EMI, who will also take a minority stake. The label specializing in altern ...

  15. 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 ...

  16. EMusic Nears Major Label Deals For Fall Relaunch

    September 16, 2010 12:00 AM EDT eMusic, the subscription digital music service, is close to wrapping up deals with the last two major labels in time for a planned relaunch in November, its chief executive said. The 12-year old start-up is working on deals with Vivendi's Uni ...

  17. Citigroup Faces Trial Over EMI Auction

    September 15, 2010 12:00 AM EDT Terra Firma Capital Partners Ltd can proceed to trial against Citigroup Inc in their dispute over Terra's 2007 acquisition of music group EMI, a federal judge ruled. The buyout house alleges in its lawsuit that Citigroup inflated the price of ...

  18. EMI Dispute Ruling Due Sept. 15

    September 13, 2010 12:00 AM EDT Citigroup Inc and Terra Firma Capital Partners Ltd will know by Sept. 15 whether their dispute over the buyout house's 2007 acquisition of music group EMI will proceed to trial, a U.S. judge said. Lawyers for Citigroup argued in Manhattan fed ...

  19. Mercury Nominees' Sales Up 105%

    September 09, 2010 12:00 AM EDT U.K. entertainment retailer HMV has issued figures showing the sales increase for the nominees of this year's Barclaycard Mercury Prize. The XX have received the biggest sales boost in percentage terms following their victory, with the except ...

  20. 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 ...

  21. Roger Faxon's Plan For EMI

    September 07, 2010 12:00 AM EDT Putting his stamp on EMI Group, newly appointed CEO Roger Faxon is moving the company back to a strong centralized leadership and away from the so-called "matrix structure" which was organized around function and had been in place since ...

  22. 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 ...

  23. Publishing Briefs: EMI, Alicia Keys, BMG, Cherry Lane

    August 27, 2010 12:00 AM EDT -- EMI Music Publishing has extended its relationship with songwriter Chip Taylor , author of such classic songs as "Wild Thing" and "Angel of The Morning." The new worldwide administration agreement sees EMI Music Publishing c ...

  24. Ernesto Schmitt To Exit Post At EMI Music

    August 27, 2010 12:00 AM EDT EMI Music president of central marketing and global catalog Ernesto Schmitt is leaving the company, according to an internal memo obtained by Billboard. Schmitt is returning to his entrepreneurial roots after leading the "hugely successful gl ...

  25. Business Matters: EMI Pension Fund, Fake Reviews, Bananarama

    August 27, 2010 12:00 AM EDT EMI'S PENSION PROBLEMS -- It would be ironic if EMI 's biggest problems came not from its debt but from a liability unrelated to the credit bubble or the recorded music downturn: its pension fund. As ( Billboard.biz has reported ), the U ...

  26. EMI Acquires Online Retail Service Digital Stores

    August 23, 2010 12:00 AM EDT EMI Music has acquired London-based Digital Stores, a European online retail service provider for artists and brands. CEO Russel Coultart and his team will join EMI's merchandise division, which includes retail music and entertainment merchan ...

  27. 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 ...

  28. EMI Group's Net Loss Tops $800 Million

    August 18, 2010 12:00 AM EDT EMI Group's new annual report reveals operational improvements, deep losses and continued dangers associated with its debt load. The company had profit from operations of £121 million ($189.5 million) for the year ending March 2010, up from j ...

  29. Publishing Briefs: UMPG, Evergreen Copyrights

    August 17, 2010 12:00 AM EDT -- The Universal Music Publishing Group has acquired the music publishing assets of Maranatha! Music, and its catalog will be placed under the umbrella of UMG's christian/gospel arm, Brentwood-Benson Music Publishing. The latest deals follows ...

  30. EMI Music Onboard With PlayStation 3's VidZone

    August 17, 2010 12:00 AM EDT EMI Music has signed a licensing deal with Sony Computer Entertainment Europe (SCEE) music video streaming service VidZone which is exclusively available to Sony PlayStation 3 users. VidZone users can now access more than 1,000 free music videos f ...

  31. Grooveshark Settles With Merlin

    August 09, 2010 12:00 AM EDT Online music service Grooveshark has settled its copyright dispute with Merlin and has licensed the catalogs of the indie music agency's member record labels. The deal compensates Merlin labels for past use of their music as well as future us ...

  32. 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 ...

  33. Robbie Williams To Star In Video Game

    July 22, 2010 12:00 AM EDT U.K. pop superstar Robbie Williams is to feature in his own karaoke video game, "We Sing Robbie Williams." It will feature 25 tracks accompanied by all the original videos. The game is to be released by publisher Nordic Games, which stru ...

  34. EMI Pub Australia MD John Anderson To Depart

    July 20, 2010 12:00 AM EDT EMI Music Publishing Australia’s long-time managing director John Anderson is leaving the company, Billboard.biz can reveal. Anderson, a 34-year stalwart with the music publisher, will leave the company this August. His successor is EMI Music Publ ...

  35. Take That Stadium Tour Rumored For 2011

    July 16, 2010 12:00 AM EDT The reunion of Take That with Robbie Williams is dominating the tabloids in the U.K. today (July 16) and the news has gone global, too. Take That and Robbie Williams are trending on Twitter, with Germans, Spaniards and the French getting just as e ...

  36. HMV To Launch Digital Service This Month

    July 15, 2010 12:00 AM EDT HMV will roll out its digital service at the end of July as the U.K. entertainment retailer makes a concerted attempt to grab market share in music downloads. The hmvdigital.com site is currently in beta. It is selling the new MIA album for £7.99 ...

  37. Report: Sony Planning Specialty Download Service

    July 15, 2010 12:00 AM EDT Sony Music Entertainment is planning a specialty digital download service dedicated to classical music and, perhaps, jazz, according to the AllThingsD blog . The service will feature higher-quality files than most digital music services offer, som ...

  38. Just Announced: EMI Music Pub, Jonsin, Universal Republic, Aware Records and more

    July 14, 2010 12:00 AM EDT -- EMI Music Publishing has extended its co-publishing agreement with Grammy award-winning songwriter and producer Jim Jonsin. As a result Jonsin's existing catalog and future songs will be represented by EMI Music Publishing’s network of off ...

  39. Business Matters: Live Nation, Popjustice, RIAA, UMG and more

    July 14, 2010 12:00 AM EDT -- The analyst consensus, according to Barrons, is that Live Nation will take a financial hit this summer but its stock has been punished too much. Barrons talks to some analysts (whose investor notes have been mentioned in this column in recent w ...

  40. CELAS Partners With Croatia's IDM Music

    July 05, 2010 12:00 AM EDT CELAS, which represents EMI Music Publishing for online/mobile across Europe, has concluded an administration agreement with music publisher Intelligent Digital Media and Music (IDM Music) in Zagreb. IDM Music, located in Croatia, will administer ...

  41. Eminem Holds Off Scissor Sisters On U.K. Chart

    July 05, 2010 12:00 AM EDT Eminem 's "Recovery" (Interscope/Universal) started a second week as the U.K.'s No. 1 album and Katy Perry a second atop the singles chart with "California Gurls" (Virgin/EMI), featuring Snoop Dogg . "Recovery&qu ...

  42. 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 ...

  43. HMV Year Profit Up 18%

    June 30, 2010 12:00 AM EDT HMV Group has revealed an 18% increase in pre-tax profits for the year ending April 24, 2010 to £74.2 million ($111 million). However, like for like sales at U.K. entertainment retailer HMV (including Ireland) were down 2.4% compared to the prior ...

  44. 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 ...

  45. Newly Appointed EMI CEO Faxon Talks Future Challenges

    June 18, 2010 12:00 AM EDT Newly appointed EMI Group CEO Roger Faxon, who has helmed EMI Music Publishing since 2007, will now be in charge of leading of all of the major's operations, including its recorded music business. In an interview to be published in next week& ...

  46. 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 ...

  47. Christina Aguilera's 'Bionic' Tops U.K. Chart

    June 14, 2010 12:00 AM EDT Christina Aguilera won her second U.K. No. 1 album and the British singles chart was overrun by soccer-related releases, as the Official Charts Company's latest sales data was unveiled. Aguilera's "Bionic" (RCA/Sony Music Enter ...

  48. Business Matters: EMI, RIAA, LimeWire and More

    June 08, 2010 12:00 AM EDT -- During a BBC Radio 4 documentary, EMI Music executive chairman Charles Allen said the business is in “really good shape” after restructuring and job cuts. And he claimed EMI’s latest investment -- £105 million ($151 million) from existing inves ...

  49. Closure Of Benelux EMI Publishing Offices Confirmed

    June 07, 2010 12:00 AM EDT EMI Music Publishing will close its office in the Netherlands June 30 with the Belgium arm of the company set to shut June 14, Arjen Witte , managing director, EMI Publishing, Netherlands, has confirmed to Billboard.biz. A total of 16 employees -- ...

  50. OK Go Forms New Label, Signs With RED

    June 03, 2010 12:00 AM EDT In the wake of their departure from EMI, OK Go has formed a new label, Paracadute Records, and signed a distribution deal with RED. The band’s latest album, “Of The Blue Colour of the Sky,” which was originally released on Capitol in January 2010, ...

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