Why Crap Bands Get Record Deals Part 47

(TuneLab) Private-equity firm Terra Firma, the company that acquired record company EMI in May, is now trying to attract investors by floating a plan that includes drastic cost cuts at the struggling label, according to a story in The New York Post. Terra Firma is considering slashing EMI's fixed costs by $223 million.

Under the proposal, EMI would slice $58 million from its A&R and marketing budget. The savings would come from requiring talent scouts to rely more heavily on sites such as MySpace to find talent.

The company would also use social-networking sites to promote acts. The plan is only under consideration and final decisions have not been made, one of the label's spokesmen told CNET News.com. - more on this story

AddThis Feed Button

Click here to read today's full report

My Chemical Romance Links

Preview and Purchase My Chemical Romance CDs

My Chemical Romance MP3 Downloads




Follow Us: Facebook Twitter Feeds

Contact Us - Privacy - antiMusic Email - Why we are antiMusic

Copyright© 1998 - 2019 Iconoclast Entertainment Group All rights reserved.

Please click here for legal restrictions and terms of use applicable to this site. Use of this site signifies your agreement to the terms of use.