The Verve may withhold album from EMI
Things just keep getting worse and worse for the beleaguered EMI, and it looks like Verve fans are the ones who are gonna suffer (as if the wait hasn’t been long enough). The Verve may join the ranks of Robbie Williams and Coldplay by threatening to withhold its next album until the band is assured that the company is financially healthy and it can count on marketing.
The Telegraph reports that a group of managers led by Jazz Summers, who reps The Verve, is scheduled to meet with EMI owner Guy Hands. “Why would we deliver a record when EMI is cutting back on the marketing and is in financial difficulty.”
Hands has already said that the days of multi-million dollar advances are over, the Financial Times reports.
“He has got no clue of what this business is about,” Summers told the Telegraph. “You only have big advances because you are not getting any royalties.”
As we previously reported, EMI has been in a downward spiral since it was purchased by Hands’ private equity company back in September for $6.3 billion.