Faxon’s New Plan: Can It Save EMI?
Roger Faxon is rumored to be drafting a fresh plan to save EMI. But will this have an impact, or merely shuffle the deck chairs once again?
EMI to Combine Publishing, Recorded Music Units Under Faxon
Major record label EMI on Friday announced a restructuring plan that will see the company combine its music publishing and recorded music divisions, to be led by former EMI publishing head Roger Faxon. “More music is being used than ever before, despite the continued decline in global music revenues. As a result, the management structure of EMI is being changed [...]
Yorke to Artists: Avoid the Music Industry “Sinking Ship”…
Radiohead was propelled by the major label system. But looking forward, Thom Yorke is telling bands to skip the machine. In a recent interview, Yorke warned young artists that the music industry establishment is a “sinking ship” with “months rather than years” before a collapse.
OK Go New Label Gets Serious; RED Distributing…
After wriggling out of its EMI Music contract, OK Go is now structuring its own label and distribution arrangements. The new label is dubbed Paracadute Records, and was actually announced in March by the band. But that label is now getting distribution through RED, owned by Sony Music Entertainment.<!–more–> So what next? EMI Music holds the rights to the older [...]
Post-Schwartz, Rumors Reignite Around EMI…
Surprise. Another week, another fresh batch of EMI rumors, though this time, the speculation is turning inward. Instead of Terra Firma and its endless wrangles with Citigroup and investors, sources are now pointing to another wave of ‘employment instability’ across both the recording and publishing sides. But concrete information is difficult to pin down at this stage.<!–more–> The latest dust-up [...]
McCartney: EMI Is Why the Beatles Are Missing on iTunes…
EMI executives sometimes struggle against an avalanche of negative media, and Paul McCartney is the latest source of pain. McCartney recently shifted his entire solo catalog away from EMI, and now, he’s blaming the label for a still iTunes-less Beatles. “It’s been business hassles,” McCartney recently told BBC Radio. “Not with us, or iTunes. It’s the people in the middle, [...]
Still Wanna Buy EMI? Sony Says Yes. WMG Avoids the Question…
The on-again, off-again interest is starting to sound like a ‘bad romance’. But Sony Music may be rekindling its interest in EMI, according to comments coming out of Germany. “We are in a position that allows us to seize every opportunity in the market – including EMI,” Sony Music chief Rolf Schmidt-Holz told German paper Frankfurter Allgemeine Sonntagszeitung, in translated [...]
Terra Firma Seeking Investors’ OK on $159M More for EMI
Terra Firma, the private equity firm that owns major record label EMI, has secured “verbal commitments” from investors to cover a loan payment due to Citigroup, but needs the vote of 75% of its 200 investors in order to prevent a possible takeover by the lender who helped finance its acquisition of EMI, the Times Online reports.
Paul McCartney Shifts More Action Outside of EMI…
And the latest EMI defection? The distinction belongs to Paul McCartney, who is now shifting more material to Concord Music Group. McCartney already has a Concord deal in place, specifically for new releases (the Starbucks collaboration fell under that partnership). But the latest departure involves all post-Beatles recordings and re-releases, based on a recent shift in control of that material [...]