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# CitiGroup Prepares For EMI Auction
- URL: https://www.hypebot.com/citigroup-prepares-for-emi-auction/
- Published: 2011-06-08T14:02:06.000Z
- Updated: 2011-06-08T14:02:06.000Z
- Description: Now that the WMG auction has ended, bankers Citigroup is readying EMI for auction. A financial look at the months since Citigroup seized the music group on Feb. 1st after. Continue reading [https://www.hypebot.com/hypebot/2011/06/citigroup-prepares-for-emi-auction.html]
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 10:55

[![image from www.google.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e2015432dfabc0970c-150wi "image from www.google.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e2015432dfabc0970c-popup?ref=hypebot.com)

Now that the WMG auction has ended, bankers Citigroup is readying EMI for auction. A financial look at the months since Citigroup seized the music group on Feb. 1st after Terra Firma and its head Guy Hands defaulted on a nearly $5 billion load from Citi is reportedly near completion. At a value somewhere between $2.5 billion and WMG's $3.3 billion sale, there are reportedly a half dozen bidders eyeing the music group.

One bidder is almost certainly WMG auction winner Access Media led by Russian-born industrialist Len Blavatnik.

It's not clear yet if Citi will entertain offers that divide publishing from the music group, but post-WMG sale optimism reins at CitiGroup. “Lots of folks are interested,” a senior bank insider told [The Wrap](http://www.thewrap.com/media/column-post/citigroup-soon-cue-emi-auction-block-27893?ref=hypebot.com). “We’ve been letting the troops line up,” he added along with speculation that bidding will begin closer to $3.3 billion. month.