Monday, April 14th, 2008
Daily News: Monday
Ronson Inks Deal With Interscope: “Grammy-winning producer Mark Ronson (Amy Winehouse) has signed a joint-venture deal with Interscope for his Allido imprint.” (via Hits)
Hands Needs Money For Lay Offs: “Almost four months after Terra Firma boss Guy Hands announced plans to lay off as many as 2,000 staffers worldwide at the troubled major label, he has yet to pull the trigger on the bulk of the cuts. Three high-level industry sources familiar with the situation claim EMI needs more money to cover the restructuring costs, which are running higher than anticipated. Once source said Terra Firma is looking to possibly raise another $60 million for EMI to help pay for the cuts.” (via NY Post)
Citigroup to Keep EMI Loans: “Citigroup Inc., the U.S. bank that financed private-equity firm Terra Firma Capital Partners Ltd.’s purchase last year of music company EMI Group Plc, has decided not to sell about $5 billion of loans provided for the transaction, a person familiar with the matter said.” (via Bloomberg)
Bollywood Producer Pays $5M For Copyright Infringement: “In what is being hailed as a landmark judgment, a Bollywood filmmaker has been ordered to pay 20 million rupees ($5 million) in a music-copyright infringement case.” (via Billboard)
