Now just 3 week's later, EMI owners Terra Firma Capital has been forced to put in an additional £28 million ($45 million) to help the company avoid defaulting on a multi-billion dollar loan from Citigroup, sources told the Wall Street Journal. Adding to fears, the chief financial officer of EMI's music division has chosen to leave the company.
More Trouble At EMI? Terra Firma Dumps In Another $45 Million
Financial statements released earlier this month by EMI pointed to a turnaround for the major label group. The company admitted to being hit by an industry-wide 10% sales downturn, but. Continue reading [https://www.hypebot.com/hypebot/2009/05/more-trouble-at-emi-terra-firma-dumps-in-another-45-mill
