1. Brandle's Global Bits: Tony Wadsworth In Major Label Comeback? Max Hole's Music Matters Keynote, Google's Thunder Down Under

    March 14, 2014 12:47 AM EDT Tony Wadsworth To Join Sony Music? Could Tony be joining Sony? That’s the big question doing the rounds this week.  The surprise departure of Nick Gatfield from the top job at Sony Music’s U.K. affiliate has created a void at the music major, and ...

  2. Universal Music UK Announces Launch of Virgin EMI Records

    March 18, 2013 11:15 AM EDT Universal Music UK's chairman and CEO David Joseph has announced the launch of Virgin EMI, an amalgamation of Universal Music subsidiary Mercury Records and Virgin Records, one of the many labels acquired by Universal in its takeover of E ...

  3. Terra Firma’s Guy Hands Breaks Silence on EMI: ‘We Learned Some Very Expensive Lessons' (Video)

    March 05, 2013 2:48 PM EST Guy Hands, founder and chairman of private equity firm Terra Firma, spoke rather candidly on the missteps he and his firm made in its management of EMI in a video interview posted today on Bloomberg (below). Terra Firma purchased the music compan ...

  4. Saatchi CEO Kevin Roberts Declares Death of Marketing, Future of Movements @ MIDEM

    January 30, 2012 10:23 AM EST It wouldn't be a marketing festival in Cannes (home to the Cannes Lions International Festival of Creativity) without at least one ad agency exec declaring the death of some common practice. At MIDEM's Visionary Monday, Saatchi & Saa ...

  5. Billboard Power 100: Len Blavatnik

    January 27, 2012 10:00 AM EST No. 8 Len Blavatnik Owner Warner Music Group Twitter: @warnermusic The Owner... Len Blavatnik has a distinction that no one else in the world can claim: He's the only person who owns a major-label group. Even Terra Firma's Guy Hands had ...

  6. Morning Heds: Spotify Says Bye to Free, Sony Goes iOS, Beatles Songs Sold

    January 12, 2012 6:11 AM EST Spotify no longer free for early US subscribers Music Week Early Spotify adopters in the US will see their no-strings, unlimited streaming experience cease next week when their promotional period comes to an end. Why Rhapsody Is (Probably) Bigger ...

  7. Guy Hands Launches New Lawsuit Against Citigroup Over EMI

    September 08, 2011 2:05 PM EDT Terra Firma chairman Guy Hands has instigated legal proceedings against Citigroup over the way it acquired EMI, according to reports. U.K. newspaper The Guardian claims Hands has applied to the high court requesting information about the condition ...

  8. EMI To Be Sold By Citi As One Unit

    April 12, 2011 7:18 AM EDT Citigroup (C.N), which got control of the world's fourth-largest record company EMI from British financier Guy Hands in February, plans to sell the company as a whole, the New York Post reported, citing sources. EMI Chief Executive Roger Faxo ...

  9. 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 ...

  10. 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 ...

  11. Business Matters: Terra Firma To Appeal Citigroup Ruling; WMG's Revenue Forecast Drops; RapidShare Fights For 'Free Speech'

    January 11, 2011 12:00 AM EST Terra Firma To Appeal Technical Aspects of Citigroup Case -- Terra Firma has filed for leave to appeal and will challenge technical aspects of its trial with Citigroup, Private Equity News reported on Tuesday. Terra Firma will not challenge the ve ...

  12. Pink Floyd Ends Legal Dispute, Signs with EMI

    January 04, 2011 10:32 AM EST 0 0 0 P ink Floyd and its long time record label EMI have signed a new five-year deal and ended their legal dispute, the company said on Tuesday. The development will come as a relief to the label, which has lost high-profile acts including Queen , The Ro ...

  13. Guys Hands Focuses On 'Next Deal'

    November 19, 2010 12:00 AM EST In his first public comments since losing a lawsuit against Citigroup over the EMI deal, Guy Hands said his buyout firm Terra Firma would have "looked like geniuses" if it had not bought EMI Group in 2007. He was speaking at the Nov. 18 ...

  14. Queen Signs To Universal, Preps Remastered Albums

    November 08, 2010 2:30 PM EST 0 0 0 British band Queen has signed to Universal Music Group after nearly 40 years with EMI, and preparations are under way for the release of remastered versions of Queen's studio albums in 2011. The switch, first reported in May and confirmed today ...

  15. Queen Signs To Universal In Another Blow To EMI

    November 08, 2010 12:00 AM EST British band Queen has signed to Universal Music Group after nearly 40 years with EMI, and preparations are under way for the release of remastered versions of Queen's studio albums in 2011. The switch, first reported in May and confirmed tod ...

  16. Terra Firma's 'Speculative' Testimony Disallowed

    October 29, 2010 12:00 AM EDT Wednesday night turned out to be a costly one for Guy Hands dreams as billions of dollars in potential damages went up in smoke when the theories behind them were disallowed in the lawsuit between Terra Firma and Citigroup. According to press repo ...

  17. Citi Banker In Trial Over EMI Says Truthful To Hands

    October 25, 2010 12:00 AM EDT Citigroup Inc banker David Wormsley, testifying in a civil fraud trial pitting the word of Terra Firma private equity chief Guy Hands against his, said on Monday he was "always truthful and honest as I could be" with Hands. Wormsley wrot ...

  18. Financier Hands Spars With Citi Lawyer In Court

    October 22, 2010 12:00 AM EDT Financier Guy Hands, who accuses a onetime friend at Citigroup Inc of lying to him about bids for EMI music company, sparred in court on Friday under cross-examination about why he did not call the banker to clear the air. Hands, the head of Europ ...

  19. 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 ...

  20. 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 ...

  21. 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 ...

  22. 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 ...

  23. 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 ...

  24. 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 ...

  25. 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 ...

  26. 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 ...

  27. Report: EMI In Licensing Talks To Raise $601 Million

    March 22, 2010 12:00 AM EDT EMI is in talks to allow rival labels to manage its back catalog in order to raise funds and prevent a takeover from its lender, reported the Sunday Times. EMI, owned by Guy Hands' private equity group Terra Firma, is trying to put in place a ...

  28. Elio Leoni-Sceti Out At EMI

    March 10, 2010 12:00 AM EST 0 0 EMI Music CEO Elio Leoni-Sceti is leaving the major on March 31. EMI issued a statement today (March 10) about his shock exit. The company said that Charles Allen has been appointed executive chairman. Allen has been non-executive chairman of EMI Musi ...

  29. 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 ...

  30. 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 ...

  31. 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' ...

  32. Business Matters: Definitive Jux, Vivendi, Guy Hands and More

    February 03, 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 . -- Hip hop label Definitive Jux is going on a hiatus. As ...

  33. Terra Firma Profits Drop

    January 21, 2010 12:00 AM EST EMI owners Terra Firma's profits dropped 43% in the year to March 2009. Profits fell to £1.87 million ($3 million), while turnover increased slightly from £47.2 million ($76.6 million) to £47.8 million ($77.5 million) According to the Financi ...

  34. Citigroup Says Not Seeking Buyers For EMI

    December 22, 2009 12:00 AM EST Citigroup said it was not seeking buyers for EMI, whose owners Terra Firma are suing the U.S. bank for billions of dollars in damages relating to its 2007 buyout. The statement came after the Observer newspaper reported on Sunday (Dec. 20) that Ci ...

  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. Business Matters: Guy Hands, EMI, Sony Music, Rhapsody

    August 17, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- The Wall Street Journal’s Aaron O. Patrick wrote a very thorough overview of Terra Firma 's struggles with EMI . Notably, the private equi ...

  38. English Beat: Lily Allen

    January 14, 2009 2:10 PM EST 0 0 0 In the nearly two years since Lily Allen's last album, the singer has encountered change more often than Barack Obama's speechwriter. An interview with her used to consist of a pizza-and-beer encounter in her manager's office; it' ...

  39. Virgin Sues 30 Seconds To Mars For $30 Million

    August 18, 2008 12:00 AM EDT Seconds To Mars frontman Jared Leto has responded to Virgin Records' $30 million lawsuit for alleged breach of contract and damages, describing the legal action as "insane" but expressing his hope 30 Seconds To Mars frontman Jared ...

  40. EMI On The Way Up, Hands Tells Staff

    July 14, 2008 12:00 AM EDT Guy Hands has informed staff at EMI that the music major is on target to deliver "significant cost savings" after generating in excess of £100 million ($199 million) in its first quarter. In an internal memo, seen by Billboard.biz, Hands ...

  41. 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 ...

  42. Cecillon Exits EMI Again

    July 04, 2008 12:00 AM EDT The latest restructuring move at EMI sees prominent London-based exec Jean-Francois Cecillon stepping down as EMI Music's president of A&R labels, international, and president Europe, Middle East and Africa. Cecillon's departure, whi ...

  43. EMI Keeps Mum On Sceti Hire Report

    June 27, 2008 12:00 AM EDT EMI has declined to comment on a published report which claims the music major has poached a key new recorded music executive in the form of Elio Leoni Sceti, a marketing specialist at consumer products firm Reckitt Benckiser. According to the Sun ...

  44. 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 ...

  45. Billboard Q&A: President Of Digital Business For EMI, Douglas Merrill

    April 03, 2008 12:00 AM EDT The appointment of former Google chief information officer Douglas Merrill to president of EMI's digital business is certainly one of the more innovative executive moves made by a major label in recent memory. Merrill -- an outsider to the mu ...

  46. Google's Merrill Takes EMI Digital Music Role

    April 02, 2008 12:00 AM EDT EMI Music has confirmed the appointment of Google executive Douglas Merrill to spearhead its digital music activities. Merrill joins the music major in the new role as president, digital business, EMI Music, with effect from April 28. The post, ac ...

  47. 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, ...

  48. EMI Bids For Chrysalis

    January 18, 2008 12:00 AM EST EMI Group chairman Guy Hands has made a bid for U.K. independent music group Chrysalis, Billboard understands. The London Times and Reuters today report that there have also been rival indicative bids from Warner Chappell and Sony/ATV, as well as ...

  49. Hodgkinson Takes On Digital Brief

    January 18, 2008 12:00 AM EST Mark Hodgkinson, London-based executive VP of global marketing at EMI Music, has taken over the responsibilities of Barney Wragg, who Billboard revealed left his role as head of digital at the major this week. Then move comes as EMI consolidates v ...

  50. Managers Weigh Up Hands' EMI Plans

    January 16, 2008 12:00 AM EST The Music Managers Forum has given a guarded welcome to EMI Group chairman Guy Hands' plans to restructure the major. London-based MMF chief executive Jon Webster spoke to Billboard.biz after yesterday's meeting between Hands and more th ...

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