EMI Sold for $5 Billion

EMI Sold for $5 Billion
EMI has been sold to an equity group called Terra Firma for approximately $5 billion (CDN).

Warner Music had shown interest in purchasing the label that houses artists such as Coldplay, Daft Punk, Lily Allen, and of course, the Beatles and the Rolling Stones, but their bid was rejected earlier in the year.

The label has had its downs this year, claiming a loss reported at around just under $600 million (CDN), blamed mostly on - like everything else in this world - illegal downloading.