Photo Gallery: Lily Allen
EMI has been sold to equity group Terra Firma.
The company secured more than the 90 per cent of shareholder approval it needed.
By today’s deadline (August 1), 90.3 per-cent of EMI investors had agreed to the £2.4bn takeover offer by the UK company, headed by buyout specialist Guy Hands.
EMI’s artists include The Beatles, The Rolling Stones, Coldplay and Lily Allen.
The company attracted interest from Warner Music, which had a bid rejected earlier this year.
EMI saw its sales decline dramatically over the past year.
In May EMI said that it had made a £260 million loss in its latest financial year, which is thought to reflect the popularity of digital downloads, reports BBC News.
Visit NME Video for the latest music videos and artist interviews
You may need to upgrade your Flash Player
You can download the latest flash plugin here.
If you have installed flash but keep getting this message:
1. Try to bypass flash plugin detection here.
2. Ensure you have javascript enabled in your browser.
3. Try using Firefox
Listen to more Free Music at we7.com








Comments do not always reflect the views of NME, or IPC Media, for guidelines visit our Ts & Cs page