EMI

EMI Group Limited
TypePrivate
IndustryMusic
PredecessorColumbia Graphophone Company
Gramophone Company
Founded31 March 1931 (1931-03-31)[1]
Defunct28 September 2012 (2012-09-28)
FateBroken up:
EMI Music Publishing acquired by consortium led by:

Parlophone, Chrysalis Records (UK artists and Ramones catalogue until 2016), EMI Classics, Virgin Classics, 2CD Originals Series and EMI's Belgian, Czech/Slovak, Danish, French, Norwegian, Polish, Portuguese, Spanish and Swedish operations (including Russian EMI partner SBA/Gala and Chinese EMI partner Gold Typhoon) acquired by:

Bulk of recording business acquired by:

Mute Records back catalogue and Virgin Music Publishing sold to:

Chrysalis British catalogue (except 3 artists and Ramones) sold in 2016 to:

SuccessorEMI Music Publishing
Virgin EMI Records
EMI Records Nashville
Minos EMI
Studios 301
HeadquartersWestminster,
London
,
England, United Kingdom
Area served
Worldwide
Key people
Founding CEO Lenard John Brown
Roger Faxon (Former CEO)
Ruth Prior (Former CFO)
Revenue£1.072 billion (2009)
$1.65 billion (2009)
£163 million (2009)
(EMI Music)[5]
£135 million (2009)
(EMI Music Publishing)[6]
OwnerTerra Firma Capital Partners
(2007–2011)
Citigroup
(2011–28 September 2012)
Universal Music Group
(28 September 2012–present)
(EMI Group)
Sony/ATV Music Publishing
(28 September 2012–present)
(EMI Music Publishing)
Warner Music Group
(7 February 2013 – present) (EMI Records Ltd; renamed Parlophone Records Ltd.)
Number of employees
5,500 (2008)
SubsidiariesEMI Records
Virgin Records
Capitol Records
Parlophone
Websiteuniversalmusic.com
parlophone.co.uk
sonymusicpub.com

EMI Group Limited (originally an initialism for Electric and Musical Industries, also referred to as EMI Records Ltd. or simply EMI) was a British transnational conglomerate founded in March 1931 in London. At the time of its break-up in 2012, it was the fourth largest business group and record label conglomerate in the music industry, and was one of the "Big Four" record companies (now the "Big Three"). Its labels included EMI Records, Parlophone, Virgin Records, and Capitol Records, which are now owned by other companies.

EMI was listed on the London Stock Exchange, and was also once a constituent of the FTSE 100 Index, but faced financial problems and US$4 billion in debt, leading to its acquisition by Citigroup in February 2011.[7][8] Citigroup's ownership was temporary, as EMI announced in November 2011 that it would sell its music arm to Vivendi's Universal Music Group for $1.9 billion and its publishing business to a Sony/ATV consortium for around $2.2 billion. Other members of the Sony consortium include the estate of Michael Jackson, the Blackstone Group, and the Abu Dhabi-owned Mubadala Development Company. EMI's locations in the United Kingdom, the United States, and Canada were all disassembled to repay debt, but the primary head office located outside those countries is still functional.[9]

EMI is now owned by Sony/ATV Music Publishing, the music publishing division of Sony Music which bought another 70% stake in EMI Music Publishing.[10][11]

  1. ^ "1930–1949 – EMI Music". Archived from the original on 6 June 2011. Retrieved 11 October 2010.
  2. ^ Sisario, Ben (17 April 2012). "Sony Plans Major Cuts in EMI Jobs". The New York Times. Retrieved 11 April 2013.
  3. ^ Sisario, Ben (8 February 2013). "Warner Music Group buys EMI Assets for $765 Million". The New York Times. Retrieved 11 April 2013.
  4. ^ Sisario, Ben (15 February 2013). ""Music Companies Fight Over the Scraps of EMI."". The New York Times. Retrieved 10 May 2013.
  5. ^ "records strong improvement in full-year operating performance". EMI Music. 7 May 2009. Archived from the original on 6 June 2011. Retrieved 13 August 2010.
  6. ^ "EMI reports". EMI Music. 31 March 2009. Archived from the original on 29 April 2010. Retrieved 13 August 2010.
  7. ^ "EMI faces uncertain fate after Citigroup takeover". Mypaper. Singapore. Agence France-Presse. 7 February 2011. p. A17.
  8. ^ "Citigroup buys EMI". iPodNN. 2 February 2011. Archived from the original on 25 April 2012. Retrieved 16 November 2011.
  9. ^ Atkinson, Claire (11 November 2011). "Citi to sell EMI for $4.1B to Universal, Sony/ATV". New York Post. Retrieved 16 November 2011.
  10. ^ "How Sony's $2.3 Billion EMI Buy Goes Beyond Beyoncé, Presley And Jackson". www.forbes.com.
  11. ^ "Sony buys EMI Music Publishing in US$1.9b deal". The Business Times.

From Rich X Search The Next Generation Search Engine

Copyright 2022 Rich X Search