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EMI Update

WHAT’S NEXT? The Times of London is reporting that EMI Music Chairman Charles Allen will present his plan to Terra Firma’s Guy Hands this week, claiming profits could climb close to 300m by 2015 in the best case, against less than 200m for the year to March 2010. According to the story, Allen will recommend making another attempt to lease the record group’s American music catalog to one of its rivals. Since it was acquired by Terra Firma in 2007, the recorded music arm has undergone 200m in cost cuts. Hands needs approval from 75% of investors to draw down 120m in fresh funds by June 14 or risk Citigroup seizing control, and apparently believes he can raise enough cash from investors to give EMI two years of breathing space, while at the same time suing Citi for allegedly misleading him over the sale of the company in the first place. Meanwhile, EMI Music had three of the Top 5 albums in the U.S. sales chart last week in Slash, Now 33 and Lady Antebellum, the first time they’ve done that since 2004. (4/19p) 


TOP 50 HOLIDAY SONGS: A MERRY LOT
It's the most wonderful time of the year. (12/7a)
HITS LIST: LABELED
WITH LOVE
Long live Hitsville USA. (12/6a)
NEW LEADERS AT COLUMBIA U.K.
The post-Ferdy era begins. (12/6a)
JIM STEWART,
1930-2022
Remembering an indie-label legend. (12/6a)
GRAMMY NOMS:
THE LIST
For your consideration (12/6a)
GRAMMY HANDICAPPING
Who's likely to win in the major categories? We have no idea.
THE NEXT BIG PLAYER
in the catalog game is...
TRUMP CORP II
Totally less fraudulent than Trump Corp.
IS IT CHRISTMAS YET?
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