New Boss Not The Same As The Old Boss

This Robert can't seem to keep EMI out of his blog. Now it seems that recently appointed CEO, Elio Leoni-Sceti, is history, and a T.V. man, Charles Allen, is the new boss.


Looks like trying to sell Abbey Road Studios and being sued by Pink Floyd for selling their music is worse than increasing sales, or are we witnessing the dawn of a new era? Is this the big clue that we're finally going to see a merger with the patient Mr.Edgar Bronfman's WMG? It seems Old Charlie has a history as Mr. Merger.

2 Billion, A Lot To Lose

Well, well Mr. Guy Hands, how does it feel to lose 2 billion dollars? And you still have to come up with 120 million by June to keep the doors open. This Robert wonders, is anyone going to throw any more money down that dry hole? Especially when the head of EMI's recorded division warns you "that morale among the record company's staff and artists (and those artists' managers) was at an all time low."

Looks like that patient Edgar Bronfman is getting closer to his dream of buying EMI's record division. Plus, if this takes much longer, Mr. Bronfman might not have to pay much. This Robert remembers when Mr. Bronfman was going to pay big for the same thing. Instead Terra Firma bought it and saved WMG a billion.

Guy Hands Smart With Trash, Dumb With Music

Mr. Guy Hands, I see you're busking. Trying to attract some fools into buying part of your music business folly.

I hear you're having the record company write a business plan, and then you're going to pitch it to investors. Let this Robert write the business plan. It's the same for every record company ever been: "Hits, Hits. and more Hits!" That's the only way that the storied EMI won't fall into the hands of patient Edgar Bronfman and his WMG.

Guy, being smart with trash doesn't make you a music man.

Beatles Bailout EMI As Usual

What's a bailed out bank doing in the recorded music business? During the high flying days of banking, Citigroup loaned Guy Hands' company, Terra Firma, billions to purchase EMI. Neither company knew anything about music. As you can guess, things went south. The banking crisis and the music business collapse makes this loan look questionable.

Citigroup wants to get their money back. Selling EMI to Edgar Bronfman and his Warner Music Group is the easiest way to accomplish that. But that leaves Guy Hands and Terra Firma out in the cold. Seems Hands and his company wants to hang on and get better terms. So to continue to repay the huge debt, EMI had to meet certain monetary considerations set by Citigroup.

It seems EMI's recorded music division just squeaked by, and barely passed the bank's financial status test, so they can continue to operate for now. So as it has in the past, the Beatles catalog bails out EMI. This Robert wonders how long can this go on? So does the patient Mr. Edgar Bronfman.

Warner's Pulls Out!

I wonder, who's right, Mr. Edgar Brofman, boss of WMG or YouTube's CEO Chad Hurley?

It seems that the two can't come to terms about $. Those dreams of a digital payoff by each guy just aren't happening. YouTube isn't making enough money to be profitable. WMG isn't making the $ that Edgar thinks his music is worth. So I heard Edgar has pulled all the WMG music related videos off YouTube.

Mr. Brofman, you sure play hardball. So the question is whether you need YouTube as a merchandising tool, as much as YouTube needs your content to be a popular Internet destination.

Stay tuned, lawsuit among the greedy is next.

No Hard Feelings

First, to those rock musicians who got rich stealing my riffs... I THANK YOU. I sure appreciate the fame you gave me, and I surely don't need the money you made off of my songs. I just wish I could have played one of those fine electric guitars.

Next, Ahmet Ertegun... I thank you for discovering the Led Zeppelin and Ray Charles. Plus, my Turkish blues man, if you got to go, backstage is as good a place as any.

Hey, Mr. Edgar Bronfman... ain't DRM the dumbest thing? Those Led Zeppelin CDs you're selling don't have any DRM. So ain't it like closing the hen house door after all the chickens have run out? Unless... you are the fox?