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EMI

EMI

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The EMI Group is a British music company comprised of the major record company EMI Music – which operates several labels and is based in Kensington in London, England, United Kingdom – and EMI Music Publishing, based in New York. EMI Music is one of the "big four" record companies.

EMI has been owned by Terra Firma Capital Partners since August 2007. Terra Firma bought EMI for �3.2 billion after a dramatic decline in sales and the announcement that EMI had sustained a loss of �260 million in 2006/2007. At the same time, EMI's British market share dropped from 16% to 9%. Following the transition, several important artists walked out of EMI, including Radiohead. Paul McCartney left ahead of the takeover. The Rolling Stones have signed a one-album deal outside of their contract with EMI, which expired on February 2008. That group on July 2008 signed a new long term deal with Universal Music Group.

Guy Hands, CEO of Terra Firma Capital Partners, came to EMI with restructuring plans to cut 1500–2000 jobs to reduce costs by �200 million a year. In January 2008, EMI's UK chief executive Tony Wadsworth left the company after 25 years. The cuts take effect over the year 2008, and would affect up to a third of EMI's 5500 staff.

The Electric and Musical Industries Ltd formed in March 1931 from the merger of the UK Columbia Graphophone Company and the Gramophone Company, famous at the time for its record label "His Master's Voice". From its beginning, the company was involved in both the manufacture of recording and playback equipment and the provision of music to play on its machines.

2008-08-07

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Perfect Complement
Comment By: Perfect Complement
Votes:0Good   Poor
Date: Sep 24, 2008 18:12:10
nice choice man!
Webloid
Comment By: Webloid
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Date: Jul 31, 2008 13:45:12
Welcome to Webloid's EMI Records Weblo Property Asset!
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EMI

EMI Jul 16, 2008 21:35:51

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