EMI at a turning point
The music titan is pumping out hits, focusing on its debt and the first quarter is up 'significantly'
The future of EMI, a decades-old music titan in the throes of survival mode, will be forged in the weeks to come. And to quote the firm's most bankable property: It's getting better all the time.
If the London-based conglomerate can get over the hump of an overdue debt payment and convince investors to buy into its five-year restructuring plan, all the doomsday predictions about the world's fourth-largest music company -- fueled by a recent exodus of major talent, including Paul McCartney -- will seem like so much hand-wringing.
difference: EMI artists are doing great right now, from Lady Antebellum
to Slash, and the company's market share has increased while the
competition has slipped.
On top of that, insiders say, the
turnaround plans of Terra Firma -- the British equity giant that bought
the company three years ago -- are finally paying dividends.
"For the last 18 months, the suits are all gone, and EMI is now being run by music people," a financial analyst who's been closely watching events at the label told TheWrap. "And they are doing a good job."
Still in question: Is it good enough -- and in time -- to save the company that houses the catalog of the Beatles, Coldplay, Katy Perry and Kylie Minogue?
Terra Firma seems to think so.
Read more at TheWrap.
More to read:
- How Haim Saban Pulled Off the Deal of a Lifetime
- Spielberg to Direct WWI Epic 'The War Horse'
- No Divorce, No CBS Contract -- But Sheen's Talking to the Law
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The last time bond investors were this bullish, the 10-year yield saw an extraordinary rise.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.