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Guy Hands Move

CITI NEVER SLEEPS: If Guy Hands passes on the company, the big question then becomes, what will the new owner choose to do with the music group? Citi Chairman Richard Parsons has a knowledge of the music business from his years at Time Warner. How will his selling of WMG to Edgar Bronfman in 2004 factor into his decision regarding EMI? Might Parsons actually find a reason for Citi to retain ownership of the company? While this is an intriguing scenario, most believe Citi will separately sell off EMI Music Publishing, which could fetch as much as the debt the lender is now holding on the company as a whole. (2/24p)

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