EMI, one of the largest record labels, doesn’t seem to be doing to well.
According to Billboard EMI is currently shopping its catalog around to rival labels in hopes of raising over $600 million dollars.
The label, which is owned by private equity group Terra Firma, has come under financial trouble in recent years are risking a takeover from its lender, Citigroup, if unable to raise the money.
The label has reportedly been in talks with other major labels to manage their North American catalog business for a five-year period
