Dec 3rd, 2008 // 1 Comment

Two of the executives involved in Terra Firma’s acquisition of EMI have left the company, and there are rumblings about further downsizing at the littlest major label; the £2.6 billion ($3.88 billion) loan that the private equity firm took out to help bail EMI out was underwritten by Citibank, and thanks to the whole bailout, that loan—which, apparently, Terra Firma was scrambling to make a payment on back in September—is now overseen by the U.S. Government. [Variety]

  1. Murk

    Hello, EMI.
    Goooooodbye.

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