The BBC has the story: The new owner of the music group EMI has said some of its artists are not working hard enough and its labels will become more picky in future. EMI was bought by Guy Hands' Terra Firma private equity house in August for �2.4bn.
In an internal memo obtained by the Financial Times, Mr Hands set out his plans for the future of EMI. "Some [artists] unfortunately simply focus on negotiating for the maximum advance," he said. Unlike the investment banking world that Mr Hands is more used to in which bonuses are linked to performance, advances are paid to artists regardless of the success of their albums - "advances which are often never repaid", the memo bemoaned. - more on this story
Click here to read today's full report
Coldplay Links
Preview and Purchase Coldplay CDs
.
RockPile: Willie Nile And More
'Meat' Me at Carnivore Restaurant in Nairobi
Father's Day Gift Guide Part 2
Father's Day Gift Guide Part 1
Al Jardine - Islands in the Sun
Steve Perry Raises $215,000 For Altadena Fire Relief
Stevie Nicks Expands 2025 Tour
Where Is Ozzy [Osbourne]? Book Coming
The B-52s and Devo Launching Cosmic De-Evolution Tour
Biohazard Return With First New Song In Over A Decade 'Forsaken'
Visions Of Atlantis Deliver 'Hellfire' Video
Sloan Announce New Album 'Based on the Best Seller'
Laguna Reveal 'Live On The Line' Video