Who NOT to Sign With: EMI


EMI is currently four billion in debt to Citigroup, and at the center of a raging debate over that debt’s restructuring process between Citi and private equity firm Terra Firma. Most of the money EMI generates goes towards servicing that debt. Also since 2007, eighty of EMI’s top one hundred executives have been replaced. What does that mean for artists? Well, it means that EMI‘s marketing and promotion budgets are scant, and that ongoing projects will be disrupted by staff changes. Peter Lauria has an interesting story on the situation in Thursday’s New York Post here: