Staff at EMI are waking up to a new burst of sale headlines this morning, after the label confirmed that it is starting a strategic review that may include seeking buyers for the company. “We, along with Citi, intend to explore all possible alternatives, including a sale, recapitalization or IPO of EMI – all with the aim of setting the stage for the next chapter in EMI’s ownership,” writes boss Roger Faxon in a memo to staff. “That is not to say that Citi has not been a great owner — they have! They have been nothing but supportive of our strategy and our team. But from the moment of their acquisition of EMI in early February, we have made clear that their custodianship of this great company was always only going to be temporary.” Faxon explains that EMI will meet potential investors and evaluate their interest, while also considering alternatives including an IPO. “If all goes according to plan that should mean that by Q4, we will have a good idea of who our new owners are likely to be,” writes Faxon, who adds that in his view “the greatest value is in keeping the business together”. Source: Hollywood Reporter
Like what you’ve read here? This is just a snippet from our subscription service.
Our subscribers get the most important digital music news and analysis delivered to them every morning and full reports every week plus access to a massive archive of data and previous reports.
For a free two week trial of Music Ally, sign up here. No strings attached – we promise!
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…