Terra won't spend more on EMI debt

YOU NEVER GIVE ME YOUR MONEY: Terra Firma is “unlikely” to inject more millions of pounds into EMI to avoid an expected covenant breach next year, leaving Citigroup facing the prospect of owning one slightly used record company and music publisher, Private Equity News reports, citing a source. Guy Hands and his private equity posse have yet to make a final decision on new investment, the source said. Terra declined to comment… In other speculation involving media barons, Sony Chairman/CEO Sir Howard Stringer has been reportedly approached to become the next chairman of the BBC. (12/6a)

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