EMI Endangered as Terra Firma Loses Case Against Citigroup

A NYC has jury ruled against Terra Firma, who had claimed investment banker Citigroup had lied about a rival bid for EMI, essentially “tricking” them into buying the rapidly declining music group. The loss means that Citi can go forward with taking control of EMI from Terra Firma, and Citi will likely split up EMI and sell it. Read the full story at the Wall Street Journal.

EMI’s roster includes 30 Seconds to Mars, Adelitas Way, Alice in Chains, Alter Bridge, Coldplay, Jet, Kutless, Saving Abel, Sick Puppies, Thousand Foot Krutch, Underoath, and more.