KINGBLIND: Music, Art & Entertainment Music News, Album & Concerts Reviews, MP3's, Music Videos, Art / Entertainment and much more!

EMI Safe for now..

Terra Firma, which made a disastrous bet on EMI Music a few years ago, gets a bit more time to try to salvage things.

Wall Street Journal:
EMI plans to inform Citigroup on Friday that in mid-June it will put up the £105 million necessary to prevent a default, according to a person familiar with the matter. According to another person close to the matter, Terra Firma has secured the approval from its shareholders necessary to make the payment, though…