News »
Gigwise RSS Feeds Bookmark and Share

Guy Hands: 'EMI Takeover Is Tougher Than Expected'

Owner speaks out...

Guy Hands: 'EMI Takeover Is Tougher Than Expected' Add to My Fav Bands List

The takeover and revamp of EMI is proving tougher than expected, Guy Hands, the man who is heading up the operation has said.

Hands launched controversial new plans for the record label following its £3.2 billion takeover by private equity company Terra Firma last August.

In a bid to stop spiralling costs at the record label, Hands said that, among other cutbacks, one third of the company's staff would lose their jobs.

Speaking at a summit meeting in Munich today (February 22nd), Hands said: "Emotionally and physically it's a lot tougher to do than we expected."

He stressed, however, that the existing plans for the label would continue to be implemented.

EMI is home to such acts as Robbie Williams, The Verve and Coldplay, who all voiced their concern following Terra Firma’s takeover.

The record label is already facing an uphill struggle due to the loss of Radiohead and Paul McCartney to smaller independent label.

(1)

     characters left [+]  


    Register now and have your comments approved automatically!

    • RT @Gigwise: Morrissey Walks Out Of Liverpool Gig After Being Hit By Drink http://bit.ly/4xiqLj //Mozza,fica em casa,pq tá brabo!
      victorrib on Sun Nov 08 13:15:12 via TweetDeck
    • #FollowFriday @gigwise @worldofblues @FridayMixtape @MeLikeGoodMusic @themusicslut @MyStage_Music @FridayBruceFix @rftmusic @musicsinmyveins
      zandria1 on Fri Nov 06 15:23:26 via web
    • RT @Gigwise Eminem 'To Star In 3D Hip-Hop Horror Movie': http://tinyurl.com/yerm5js < File under Terrible Ideass for $200 Alex?
      alternageekorg on Fri Nov 06 15:14:40 via web
    • @Gigwise So exciting! Can't wait for the London gig. Muse Rocks!
      solamore on Fri Nov 06 15:13:08 via web
    • RT @Gigwise: Pet Shot Boys To Release Christmas EP: Ahead of festive UK tour... http://tinyurl.com/ydhpdno
      _barbarroja_ on Fri Nov 06 14:40:20 via TweetDeck
    Artist A-Z   # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z