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EMI May Need A Lot More More $’s To Keep Going

EMI and Guy Hands will reportedly ask weary Terra Firm investors for three times what it initially sought to help EMI from defaulting on its loan obligations, unnamed sources told Bloomberg News.

image from www.hypebot.com $551 million is now believed to be needed before mid-June to help EMI meet its debt obligations to lender CitGroup thru 2015. The new figure appears to reflect the growing reality that no major label group is stepping up to offer a hoped for cash infusion in exchange for a license of EMI's extensive catalog

MORE: Many More Jobs On The Line @ EMI


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