ALEX BRUMMER: Discord hurts creative Britain

ALEX BRUMMER: Discord hurts creative Britain
 

Hope for the future: HMV is not Woolworths and will make a decent profit in the current financial year
Much of EMI's problems stem from the culture of private equity and debt which dominated the last decade.
While EMI continues to discover new artists, to add to a backlist which includes the Beatles, it is beset by financing problems.
The company is weighed down by the financing costs of the £3bn of debt from Citigroup taken on when Guy Hand's Terra firma acquired it in 2007.
Like the Royal Bank of Scotland's purchase of ABN Amro it was one of the worst timed purchases of all time with EMI... read more

 
28 January 2011 in Business, Views: 3
Source: Daily Mail
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