Terra Networks

  1. Former EMI Owner Terra Firma Seeks Appeal in Lawsuit Against Citigroup

    October 05, 2012 3:09 PM EDT Terra Firma Capital Partners LP has asked a U.S. appeals court for a new trial over its claims that it was deceived by Citigroup Inc. while bidding for EMI Music, according to numerous reports . The case originally went to trial in October 2010. A ...

  2. Business Matters: Universal's Deal for EMI No Longer a Sure Thing, But Still Worthwhile

    September 21, 2012 10:00 PM EDT How much will Universal Music Group miss that pound of flesh the European Commission took when it forced considerable concessions from the world's largest record company in exchange from its approval of a merger with EMI Music? That's th ...

  3. Telefonica's Terra From Spain to Offer Legal Music, Film Streaming in Europe

    May 01, 2012 6:00 AM EDT MADRID - Telefonica's media unit Terra plans to introduce online films and music in Europe, starting with Spain and Portugal by the end of next month, news reports said Monday. Spanish Court Dismisses Case Against Major P2P Site No one was im ...

  4. 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 ...

  5. EMI: A Look Back At The Guy Hands Era

    February 02, 2011 6:09 AM EST Citigroup's takeover of EMI finally brings to an end Terra Firma's incredible three-and-a-half year ownership. Purchased for £4 billion ($6.3 billion) in May 2007 at the height of the credit market, EMI turned out to be a disastrous inve ...

  6. 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 ...

  7. Nelly Furtado, Fefe Dobson, Belanova Set For Terra Music Fest

    August 19, 2010 12:00 AM EDT Terra has partnered with Ford to present the Terra Music Fest—a day-long concert headlined by Nelly Furtado, Fefe Dobson and Belanova—that will launch Terra’s new Live & Loud online platform. The Terra Music Fest will take place Oct. 3 at the ...

  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. 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 ...

  10. 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 ...

  11. Ruling By End March In EMI Deal Dispute

    March 05, 2010 12:00 AM EST A U.S. judge said he would rule by the end of March on whether or not to grant a request by Citigroup Inc to move a lawsuit by Terra Firma Capital Partners Ltd to London in a dispute over the buyout house's acquisition of EMI. Terra Firma cha ...

  12. Owner Proposed Breaking Up EMI Group

    February 15, 2010 12:00 AM EST Terra Firma Capital Partners Ltd chairman and chief executive Guy Hands proposed three months ago to break up music company EMI Group Ltd, court documents filed in New York show. Hands made the proposal in a letter to Chad Leat, head of the altern ...

  13. 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 ...

  14. 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 ...

  15. 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 ...

  16. 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 ...

  17. 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 ( ...

  18. MSN, Cyloop Form Alliance

    December 16, 2008 12:00 AM EST Microsoft MSN and Internet music community Cyloop have teamed up in an alliance that will have Cyloop offering its content on MSN’s portals in Latin America, the U.S. Latin market and the Sympatico/MSN portal in Canada. The strategic alliance was ...

  19. Warners' Web Deal For Latin Artists

    April 14, 2008 12:00 AM EDT Warner Music Latin America has signed a deal to make its music videos available on the video-sharing Web site, Terra TV. The content and revenue partnership with Terra Latam, the leading Latin American internet company, will allow Terra TV users t ...

  20. SGAE, Hoodiny Forge Digital Deal

    March 03, 2008 12:00 AM EST Spanish authors' and publishers' society SGAE has reached a digital distribution deal with Hoodiny Entertainment Group, the U.S.-based full-service technology and content production company. SGAE has licensed for Spain the repertoire of ...

  21. 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 ...

  22. Terra Firma Reaches EMI Shareholder Goal

    August 01, 2007 12:00 AM EDT Terra Firma has cleared one of the final hurdles in its proposal to buy out EMI Group plc. Just after the final deadline closed on the acquisition process this afternoon, the private equity firm announced to the London Stock Exchange that it had s ...

  23. 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 ...

  24. 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 ...

  25. Terra Firma Extends EMI Offer Deadline

    July 13, 2007 12:00 AM EDT Terra Firma has re-extended its deadline to buy-out EMI Group Plc after the private equity firm failed again to achieve total shareholder approval. By 1pm ET yesterday, Terra Firma had collected only 3.82% of EMI's existing issued ordinary sh ...

  26. EC OKs Terra Firma, EMI Deal

    July 12, 2007 12:00 AM EDT The European Commission on Thursday approved private equity group Terra Firma Capital Partners' £2.4 billion ($4.8 billion) takeover bid for EMI Group. The clearance for the planned buyout comes despite attempts by many EMI shareholders to en ...

  27. 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 ...

  28. 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 ...

  29. Live365 To Syndicate Latin Portal

    May 20, 2004 12:00 AM EDT Internet radio specialist Live365 has inked a distribution deal with Terra.com, an online portal aimed at U.S. Hispanics. Internet radio specialist Live365 has inked a distribution deal with Terra.com, an online portal aimed at U.S. Hispanics. Und ...

  30. Live365 To Syndicate Latin Portal

    May 20, 2004 12:00 AM EDT Internet radio specialist Live365 has inked a distribution deal with Terra.com, an online portal aimed at U.S. Hispanics. Internet radio specialist Live365 has inked a distribution deal with Terra.com, an online portal aimed at U.S. Hispanics. Und ...