What the two potential partners remain understandably concerned about is locking down a long-term agreement, only to have Terra default on the loan to Citigroup at some point down the line. Hands’ next challenge involves providing an ironclad assurance that such a situation won’t occur, either by demonstrating that he can secure the needed additional hundreds of millions from investors, or by proving that EMI has the wherewithal to generate enough revenue on its own to keep it solvent. At this point, both scenarios are tough sells, to say the least.
Meanwhile, insiders say that the relationship between EMI and Citi is improving, though the same can’t be said about relations between Terra and the lender, with an October court date to resolve Terra’s suit against Citi on the calendar.
As Hands was locking down the funds, EMI kept the pedal to the medal, coming with a new single from Katy Perry that was immediately declared a smash by Top 40 handicappers. “California Gurls,” the latest video-centric concoction from the formidable Perry-Dr. Luke team, further intensifies EMI’s hot streak, paced by Lady Antebellum, whose title song has broken wide open at Pop and Hot AC under the veteran leadership of Greg Thompson, while the album passed the 2m mark this week.
Perry’s track provides a tantalizing preview of her eagerly anticipated sophomore album, streeting in August, which should give another boost to EMI’s remarkable turnaround; the company is just below 12% in new release marketshare.
SONG REVENUE: CALM BEFORE THE STORM
J. Cole has his moment; Future-Metro have another big payday. (4/19a)
WARNER CHAPPELL ROPES IN RED CLAY STRAYS
Another big get for Guy and Carianne (4/19a)
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
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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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