Terra Firma

  1. Cream Rises To Ingenious Live Deal

    July 15, 2008 12:00 AM EDT U.K.-based media investment and advisory group firm Ingenious has re-upped its long-term relationship with British dance music empire Cream. Through the new agreement, which builds on an association dating back to 2001, the Ingenious Live Venture ...

  2. EMI Confirms Leoni-Sceti Hire, Hands Steps Aside

    July 07, 2008 12:00 AM EDT Guy Hands has added the final touches to his sweeping restructuring of EMI with the appointment of Elio Leoni-Sceti at the helm of its recorded music division. As part of the latest move, announced today, Hands will step aside from his chairmanshi ...

  3. Stones Deny Label Move From EMI

    June 16, 2008 12:00 AM EDT The Rolling Stones have played down a weekend report that the band planned to ditch long-term record company EMI to join concert promoter Live Nation. But industry experts still believe the British group could soon part ways with the label, which ...

  4. No Additional Job Cuts, EMI Says

    May 13, 2008 12:00 AM EDT Guy Hands' reorganization of EMI is almost complete, and will not entail a further round of job cuts, beyond what was previously announced, the music major claims. A spokesperson for the British-based company today dismissed a report publishe ...

  5. Alexander, Werre Helm New EMI Units

    March 03, 2008 12:00 AM EST EMI Group chairman Guy Hands continues to ring the changes, creating two new recorded music business units focusing on exploiting catalog and synch opportunities. EMI Music Catalogue, Compilations, Studios and Archives (CCSA) has been established, ...

  6. Wadsworth Out At EMI U.K.

    January 08, 2008 12:00 AM EST Tony Wadsworth has left his role as chairman and CEO of EMI Music UK & Ireland, it was announced today (Jan. 8). The move is described in a statement from the company as part of the "ongoing restructuring of EMI Music" under the new ...

  7. Yorke Addresses EMI Renegotiation Report

    December 31, 2007 12:00 AM EST Radiohead frontman Thom Yorke has responded to a report that his band demanded an exorbitant advance from EMI for its next album as well as control of its back catalog, before ultimately deciding not to re-sign with the company. The Times of Londo ...

  8. EMI COO Hanson Departs

    December 11, 2007 12:00 AM EST Ian Hanson is stepping down as EMI Group COO with immediate effect, the music major said today. Hanson was promoted in January to COO from EMI Music senior VP, chairman's office, reporting to then-EMI Group CEO Eric Nicoli. Nicoli was ousted ...

  9. Hands Demands Trade Body Change

    November 28, 2007 12:00 AM EST Guy Hands is calling into question the necessity of trade bodies the IFPI, RIAA and BPI, Billboard.biz understands. Hands, chairman of EMI Group and CEO of Terra Firma, the equity firm which now owns EMI, is understood to have sent a damning lette ...

  10. O'Driscoll Joins EMI's Investor Board

    November 12, 2007 12:00 AM EST EMI Group has recruited former Northern Foods CEO Pat O'Driscoll to its investor board. She will be tasked with helping assess EMI Group's talent, and assisting with the music giant's culture change, according to EMI in a statement ...

  11. Claper, Mann Join EMI

    November 05, 2007 12:00 AM EST EMI Group is strengthening its investor board with the recruitment of Mike Clasper and Billy Mann. Clasper, former CEO of airports group BAA plc, will advise on and review the development of EMI's global manufacturing, logistics and sales ope ...

  12. Terra Firma Conducting EMI Strategic Review

    October 30, 2007 12:00 AM EDT Private equity group Terra Firma, months after buying music company EMI, has launched a strategic review of the company but plans to keep it intact, a spokesman said on Monday. The spokesman, however, declined to give any further details about the ...

  13. Terra Firma Chief: No Plans To Sell EMI Music

    September 14, 2007 12:00 AM EDT Terra Firma chief executive Guy Hands said Friday the private equity venture had no plans to sell its ailing recorded music division, despite how badly the company had been run. EMI, which parted company with former CEO Eric Nicoli and finance dir ...

  14. Former BBC Chief Takes EMI Role

    September 12, 2007 12:00 AM EDT Former BBC director general John Birt has joined the supervisory board of EMI Group, with immediate effect. The board is chaired by Guy Hands, CEO of the music major's new owners, the Terra Firma equity house. In a statement issued today, Ter ...

  15. EMI Says 93% Of 2013 Euro Bonds Tendered

    September 04, 2007 12:00 AM EDT British music group EMI Group Plc said on Tuesday that 93% of its 425 million euros ($579.1 million) of 8.625% bonds due 2013 had been tendered under a buyback offer launched on Aug. 17. EMI is buying back its outstanding bonds due to its acquisit ...

  16. EMI Publishing, Mute HQ Relocate

    September 03, 2007 12:00 AM EDT The London headquarters of EMI Music Publishing and Mute Records are moving house. In mid-September, EMI Publishing will move from its long-time offices on Charing Cross Road to EMI Group's Wrights Lane premises. An EMI insider says the decis ...

  17. Nicoli: EMI's Terra Firma Future Bright

    August 29, 2007 12:00 AM EDT EMI's outgoing chief Eric Nicoli has assured employees that the business is in safe hands with its new owner, the Terra Firma equity house. In an internal letter issued to EMI's artists, writers and staff, Nicoli presented a promising fu ...

  18. EMI To Cancel LSE Listing On Sept. 18

    August 17, 2007 12:00 AM EDT EMI Group plc expects to de-list from the London Stock Exchange on Sept. 18 as it prepares for a new era under the ownership of equity house Terra Firma, the British music major reports. In a statement issued to the London Stock Exchange, EMI said ...

  19. Terra Firma Reject Nicoli Sack Claims

    August 15, 2007 12:00 AM EDT European equity house Terra Firma is playing-down speculation that EMI Group CEO Eric Nicoli is on the verge of being jettisoned. Sources close to the music major claim Terra Firma has appointed a headhunter to find a replacement for Nicoli, a mov ...

  20. U.K.'s ERA Calls For Terra Firma Clarity

    August 01, 2007 12:00 AM EDT The U.K. music and entertainment retailers' trade body is urging the new owner of EMI Group Plc to clarify its future plans swiftly to help eliminate ongoing uncertainty in the business. The call comes shortly after Terra Firma, the private-e ...

  21. Terra Firma Extends EMI Deadline

    July 30, 2007 12:00 AM EDT European private-equity firm Terra Firma has extended until Aug. 1 its deadline to buy-out EMI Music Plc, after reporting almost 85% shareholder approval for the deal. By 5pm on July 27, the private-equity company had clinched 84.94%, Terra Firma ...

  22. EMI Shares Fall On Terra Firma Financing Concerns

    July 26, 2007 12:00 AM EDT Shares of U.K. music company EMI Group Plc closed down 5.2% on Wednesday as concerns grew that its private equity buyer Terra Firma was having trouble securing financing for the deal. Terra Firma and adviser Citigroup were haggling over the terms ...

  23. Terra Firma Closing In On EMI

    July 20, 2007 12:00 AM EDT More than a quarter of music giant EMI's shareholders have accepted Terra Firma's takeover offer, the European private equity firm said today. By 1pm ET yesterday (July 19), Terra Firma's proposal had garnered 26.19% acceptance amon ...

  24. Fifield Pulls Out Of EMI Hunt

    July 18, 2007 12:00 AM EDT Terra Firma's route to acquire EMI Group has cleared substantially after potential suitor Jim Fifield joined Warner Music Group in pulling out of the race. Fifield, the former CEO of EMI Group, had declared on May 25 his interest in making a ...

  25. WMG Drops Pursuit Of EMI Bid

    July 17, 2007 12:00 AM EDT Warner Music Group has decided not to pursue a bid for EMI Group Plc. The company issued a statement late Tuesday indicating it decided not to make an offer but reserves the right to do so in the next six months. The U.K.'s Takeover Panel dem ...

  26. Warner, Fifield Given July 19 EMI Bid Deadline

    July 17, 2007 12:00 AM EDT The U.K.'s Takeover Panel has demanded that any suitors for EMI Group Plc must make a firm offer by noon Thursday (July 19). The Panel, an independent body that regulates the country's mergers and acquisitions, requires all suitors to st ...

  27. Warner Music Eyes EMI As Deadline Looms

    July 11, 2007 12:00 AM EDT Ahead of tomorrow's U.K. Takeover Panel deadline, Warner Music Group (WMG) appears to be ramping up its next move for a possible acquisition of EMI Group Plc. According to reports, WMG has appointed Alan Mnuchin, of Wall Street investment ban ...

  28. Terra Firma Extends EMI Bid Timeline

    July 05, 2007 12:00 AM EDT European private-equity firm Terra Firma has extended the deadline to July 12 on its £2.4 billion ($4.84 billion) acquisition bid for EMI Group Plc. Terra Firma issued a statement Wednesday declaring that the offer "is being extended and will ...

  29. EMI Sale Deadline Extended

    June 28, 2007 12:00 AM EDT Terra Firma, the European private equity firm, has extended the deadline required for EMI Group Plc to accept its £2.4 billion ($4.7 billion) acquisition bid to July 4. Terra Firma had originally given EMI, the U.K.-based multinational music compa ...

  30. WMG May Raise Stakes In EMI Bid

    June 11, 2007 12:00 AM EDT Warner Music Group is not out of the hunt for long-time interest EMI Group. In a statement issued today, WMG suggested it would place a new bid on the table for the London-based major when it confirmed it "continues actively to consider an of ...

  31. Fifield Interested In EMI Bid

    May 25, 2007 12:00 AM EDT Former EMI chief Jim Fifield is interested in potentially making an offer for EMI Group plc. In a statement issued to the London Stock Exchange by Corvus Capital, the investment management firm said it had been working with Fifield on a bid before ...

  32. 'Challenging Year' Hits EMI's Bottom Line

    May 21, 2007 12:00 AM EDT On an eventful day for EMI Group plc, the music major has confirmed revenue declines at both its recorded music and music publishing divisions, and reported a steep fall in full-year earnings. The group's preliminary results, which cover the ...

  33. EMI Backs Terra Firma Bid

    May 21, 2007 12:00 AM EDT EMI Group has recommended its investors accept a cash offer for the company from European private equity firm Terra Firma, for 265 pence per share. The sum, offered through Maltby, a newly-incorporated company formed by Terra Firma, values the mus ...

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