Sunday, December 13, 2009

EMI nervously casts about for cash

Hey, there's no problem at EMI, right? It's just that Terra Firma are desperately trying to find a billion quid to prop the company up.

But, hey, right now it's able to cope with being £2.6billion in debt, it's just worried that if something bad happens, it might have to hand the whole thing over to Citibank.

Citibank - can you imagine them trying to run a record label? They can barely cope with running a bank.

EMI are trying to sound upbeat, but the disappointing performance of the Beatles remasters and the general yawn which met the return of Robbie Williams can't be helping steal nerves at Terra Firma.

The real question, though, is if you had a billion quid, why would you throw it in the debt hole? Wouldn't you wait for the collapse and use it to buy the decent bits of EMI in a fire sale?

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