- by Jason Gregory
- Wednesday, October 31, 2007
- filed in: Indie
Hundred of jobs at EMI are reported to be at risk after the group’s new owner announced plans for a strategic review.
Private equity firm Terra Firma – who took over the music group earlier this year – are understood to be considering selling of the companies CD distribution branch.
Although no specific details about what the review might entail have been made public, a spokesperson for the company said that “anything and everything is a possibility.”
The spokesperson added, however, that there were no plans to sell EMI’s record music and music publishing branches which Guy Hands, the chief executive and founder of Terra Firma, stressed the importance of in a recent statement.
According to the Times, job cuts are being considered at both branches, however.
Terra Firma paid £2.4 billion for the music group which is home to such artists as Coldplay and The Beatles.
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