EMI on the Skids, Loses Over $1 Billion

EMI, the smallest of the four major record labels, posted an after-tax loss in the year to March of $1.2 billion, which is a major increase over the $456 million the company lost during the same period the year before, Wired reports.

This comes after EMI allowed a private equity group run by Guy Hands to buy the historic music company in 2007 and scare off its most legendary artists, the report said, including Radiohead, Paul McCartney, and The

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