EMI Promises To Invest in EMI; Keeping It Intact

Private equity group Terra Firma, which bought music label EMI (EMI.L) will keep the company intact and not sell its recorded music division as some expected, its CEO Guy Hands said on Friday at the Royal Television Society convention going on in Cambridge. And here’s how he looks at the business: “We look for the worst business we can find in the most challenged sector and we get really happy if it’s really, really bad…EMI, our most recent investment, is a classic example. We’re just hoping EMI is as bad as we think it is.”
Times Online: He made clear that EMI would have to be restructured so that it could generate a profit even when an artist sells

Comments have been disabled for this post