Former Warner Music Exec Is New Bidder For EMI
The day after bids for EMI were due, former Warner Music executive James Caparro, now head of Yamani Global Equities, sent out a press release announcinh he'd teamed with Alliance Warburg Capital Management on an offer. Though Caparro is a respected player, industry insiders question how the real his EMI bid is since it’s unusual to issue a press release when eligibility to part of this kind of auction usually includes a non-disclosure agreement. FULL TEXT OF CAPARRO EMI PRESS RELEASE:
PR Newswire NEW YORK, Oct. 6, 2011 NEW YORK, Oct. 6, 2011 /PRNewswire
James Caparro, the Chief Executive Officer of Yamani Global Equities, Inc. in partnership with Alliance Warburg Capital Management today announced that the company has made an offer to acquire EMI Group, Inc.’s music and publishing Units.
Mr. Caparro commented: “This is the first step in the execution of our turnaround plan to guide EMI’s assets through the integration of our five prong revenue model that will lead the company into providing consumers and customers with music and entertainment services utilizing twenty first century technologies.” Jim Caparro’s background consists of over 25 years of executive management, evaluating business situations along with developing effective solutions.
He founded The Entertainment Distribution Company, The Island Def Jam Music Group which became one of the largest and most profitable record labels in the industry and created PolyGram Group Distribution. His prior experience includes serving as Chairman and CEO of Warner Bros. Elektric – Atlantic Records (WEA).
About Yamani Global Equities, Inc.: Yamani Global Equities, Inc. is a private equity firm focused primarily on companies involved in the sports and entertainment sector. The expertise of the firm’s investment team, strategic partners and Advisory Boards is unparalleled in depth and breadth. In addition, YGE is a leader in strategic sports and entertainment partnering, an invaluable practice to build value in portfolio companies and to accelerate their growth and development.