there goes another record label - emi

May 24th, 2007 by Dave Allen

Capitol Records
Photo:© Heidi Kirkpatrick:EMI/Capitol Records building Los Angeles

EMI agreed to a £3.2 billion take over by a private equity firm. Seems someone has faith in music sales….

Related Posts:Broken Music System, EMI to sell DRM-free MP3s.

This entry was posted on Thursday, May 24th, 2007 at 10:09 am and is tagged as . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “there goes another record label - emi”

  • bryanv Says:
    May 24th, 2007 at 10:30 am

    These private equity firms are all over the place.

  • Dave Allen Says:
    May 24th, 2007 at 11:40 am

    yeah, basically they’ll lay off a lot of folks, strip the juiciest assets and then sell the real estate…

  • bryanv Says:
    May 24th, 2007 at 12:00 pm

    and the Capitol Records building will be demolished and replaced with a parking garage!

  • Dave Allen Says:
    May 24th, 2007 at 2:21 pm

    actually rumor has it that it will become condos. the building was already sold by EMI to cash out of it. they currently rent it back for capitol/virgin records offices…….

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