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EMI posts annual profit

PLUS & MINUS: As the Killer B’s, Bronfman and Blavatnik, prepare to make a move on EMI, the British company reports a 7% jump in annual profit to 330 million (that’s $533 million). But EMI is also saddled with around 3 billion pounds ($4.8 billion) of debt, a chunk of which Citigroup hopes to recover in the upcoming auction. Last week, Fitch valued EMI at $2.5-$3 billion, though the initial price tag Citi has put on the company is rumored to be significantly higher. (5/19a)

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