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Home > Magazine > Article Archive > News

News: CitiGroup Prepares For EMI Auction
Posted on Wednesday, June 08, 2011 @ 21:36:53 UTC
Topic: Labels

Now that the WMG auction has ended, banker Citigroup is readying EMI for auction. A financial look at the months since Citigroup seized the music group on February 1st after Terra Firma defaulted on a nearly $5 billion load from Citi is reportedly near completion. At a value somewhere between $2.5 billion and WMG's $3.3 billion sale, there are reportedly a half dozen bidders eyeing the music group. One bidder is almost certainly WMG auction winner Access Media led by Russian-born industrialist Len Blavatnik. Complete Article





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