Earlier today, newsrooms worldwide reported confirmation that EMI had been sold to private equity group Terra Firma.
Terra Firma, the buyout vehicle of financier Guy Hands, needed to convince at least 90% of EMI’s shareholders by an August 1 deadline; and has subsequently declared its £2.4 billion bid successful.
EMI’s artists include The Sex Pistols, The Beatles, The Rolling Stones, Coldplay, The Chemical Brothers and more recent successes Lily Allen, The Kooks, The Magic Numbers and Jamie T.
Although EMI attracted interest from Warner Music, Warner’s bid was rejected earlier this year.
