Maltby Capital

  1. How Citigroup Outfoxed Guy Hands In Its Takeover Of EMI

    February 03, 2011 2:15 PM EST While press reports on Citigroup's takeover of EMI are rife with phrases about how the bank "seized control" (New York Post) in a "surprise move" (Los Angeles Times) that apparently caught Terra Firma chairman Guy Hands of ...

  2. 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 ...

  3. 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 ...

  4. 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 ...

  5. 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 ...

  6. 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 ...

  7. 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 ...

  8. 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 ...

  9. 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 ...

  10. 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 ...

  11. 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' ...

  12. 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 ...

  13. Analysis: Recent Earnings Spotlight Ongoing Trends

    June 03, 2009 12:00 AM EDT The importance of ancillary revenue streams and continued consolidation - either within a company or between two companies - were some of the ongoing trends spotlighted in the most recent round of earnings reports. As companies manage the transiti ...

  14. 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 ...

  15. EMI Posts Huge Loss

    October 24, 2008 12:00 AM EDT EMI Group has reported a loss of £757 million ($1.2 billion) for the year ending March 31, citing the "continuing underperformance from EMI Music." That compares to a loss of £287 million ($454.5 million) in the previous year. Revenue pl ...