EMI sold to equity group
Lily Allen, T In The Park, main stage, July 6 2007. Pic Lily Allen
Terra Firma buys record label group
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.
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.
Lily Allen tickets:
- Jul 19, 2009 00:00 at Recinto De Conciertos, Benicassim Spain - Buy from Seetickets
- Aug 23, 2009 12:00 at Weston Park, Staffordshire - Buy from Seetickets
- Aug 24, 2009 12:00 at Weston Park, Staffordshire - Buy from Seetickets
Michael Jackson Tribute Special + 24-Page Glastonbury 2009 Review, On Sale Now
Subscribe here or get this week's issue delivered to your door
Lily Allen sends topless pic of herself to Kaiser Chiefs
Lily Allen
Lily Allen - Littlest Things
Add your comment
Please sign in to add your comments or register to have your say.