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EMI May Be For Sale, HQ Shift To LA

Emi_logo_2 According to London's Evening Standard Terra Firma's Guy Hands is said to be open to offers to unload his record division and hold onto the more lucrativeGuy_hands publishing arm. He also is considering consolidating US operations in LA rather than the current NYC. Its all part of move to help investors recoup some of the almost $5 billion they paid for EMI rather than ask them to be patient through what Hands sees as a long term turn-around. 

None of these rumors will make EMI's now 8 month old search for a new CEO or  other turnaround efforts an easier. Who - whether executive or artist - wants to join an team with such an uncertain future? (more: Daily Swarm)

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