According to today’s N.Y. Post, Terra Firma is already looking to dump some of its equity stake in EMI, including a possible sale of its physical distribution. See Peter Lauria’s full report here.
Hands has already met with dozens of private-equity firms, hedge funds and other financiers in a bid to recoup some of the $1.5 billion in equity it has in EMI as part of its $4.7 billion acquisition. He has already gone back at least twice to the limited partners tho participated in the original financing for more equity.
Insiders suggest the Terra Firma ruler is already feeling buyer’s remorse after a thorough examination of his purchase.
"If they thought the deal they made was good, they wouldn't be diluting their stake by trying to bring other investors in," said one source. "They're trying to find others to buy in so they can offload some of the risk."
Terra Firma is also reportedly looking at a number of cash-saving initiatives, with selling off its physical distribution operation and farming out packing and shipping functions two of the possibilities.
Other options include—you guessed it—job and spending cuts.
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/18a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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