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Citigroup has foreclosed
- Citigroup has foreclosed on the debt-laden British record label EMI, home of The Beatles, Pink Floyd, Coldplay, and Katy Perry, among many others. The company was bought in 2007 by private equity firm Terra Firma, but was taken over by Citigroup after it became clear the parent company could no longer service its debt.
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What happened to EMI?
In July 2023, Universal Japan announced a new imprint label, Holo-n, which will operate under their EMI Records division in partnership with Hololive Production. In February 2024, UMG Philippines relaunched EMI Records as a successor to the former EMI Philippines label, now known as PolyEast Records. EMI United Kingdom
- 2013; 10 years ago (original)
- United Kingdom
- Various
Jan 11, 2015 · last updated 11 January 2015. Citigroup has foreclosed on the debt-laden British record label EMI, home of The Beatles, Pink Floyd, Coldplay, and Katy Perry, among many others. The company was...
On 16 June 2020, Universal rebranded Virgin EMI as EMI Records, reopening the iconic label, and named Rebecca Allen, former president of Decca Records, as the new EMI's president. UMG has continued to operate Virgin as an imprint of EMI.
- 31 March 1931; 92 years ago
- 5,500 (2008)
- Founding CEO Lenard John Brown, Roger Faxon (Former CEO), Ruth Prior (Former CFO)
- Westminster, London, England, United Kingdom
Dec 29, 2012 · So EMI was left exposed, basically, on the idea that as long as records kept selling, EMI would continue to be profitable." But record sales today are roughly half what they were a decade ago.
Jun 17, 2020 · London, June 16th, 2020: Universal Music Group has mapped out a bold new future for one of the most renowned British record labels of all time with Virgin EMI being renamed EMI Records with...
EMI was smothered to death by Terra Firma and felt the blow of the CEO Guy Hands (and later, Citigroup’s) inability to help. Things weren’t looking good, as EMI also lost some of its biggest artists to competitors.
Jun 17, 2020 · EMI, the famous British record company behind music legends ranging from the Beatles and Queen to Radiohead and Kylie Minogue, is to return as a frontline label. Founded in 1931, EMI became a...
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