Terra Firma Pumps More Money Into EMI

It’s pretty clear by now that record labels are struggling to manage the digital transition. The latest sign is the news that EMI parent Terra Firma has injected an additional $45 million into the company to avoid breaching its debt agreements. In addition, EMI’s CFO will move into a role overseeing the firm’s investments and will be replaced by Terra Firma finance executive Andrew Chadd, according to a report by the Wall Street Journal citing sources familiar with the matter.

The cash injection comes amid aggressive cost-cutting by EMI after…

continue reading from source by Rory Maher

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