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Old 02-02-2011, 05:17 AM
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Default Record giant EMI seized by creditor

Not so much drumming directly, but for those of us who've had some long conversations on here about the state of the music industry and how the businessmen took over the labels from the music men than used to run them, this article reflects just about extreme it has gotten.

EMI, one of the "big 4" record companies, who are the parent company behind Capitol Records, Virgin Records, Blue Note, and many others, and serves as the home of The Beatles catalog among thousands of others, was seized by their main creditor, Citibank.

So yes, now much of the worlds most popular music is now owned by the people behind your credit card.

http://laist.com/2011/02/01/the_day_..._citigroup.php

http://www.latimes.com/entertainment...,6440834.story
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