RUMOR MILL
Wednesday, March 31, 2010
EMI in Breach
BREACH OUT, EMI’S THERE: EMI Music has breached its debt covenant with Citigroup after talks for a licensing deal with Universal Music Group collapsed early this morning, according to a report in the U.K. Guardian. Terra Firma must now go to investors in its bid to raise $190 million by the June 12 deadline, which is when Citigroup can seize the company. Under terms of EMI’s “covenant lite” lending agreement, the bank will allow the music company the extra time to make good on its breach. The pressure is now on Guy Hands and new EMI boss Charles Allen to find the funds to prevent that from happening. Sounds like a job for McGruber. (3/31p)
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
| ||
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!
|
A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
