EMI Desperately Trying To Generate Cash

 Writer: Ian S. Russell

Several of our sources close to British music mega-label 'EMI' are telling us today that they are taking 'emergency action' in an attempt to save the label from being taken-over.

Our lead source has stated that EMI are attempting to sell several back catolog rights to some of the biggest artists EMI have handled, including The Beatles, Blondie & Pink Floyd.

June 14th is the ultimate deadline for any changes that EMI wish to make, after that date if the current  1.5 Billion debt is not cleared Citi - The bank who currently holds the debt against EMI - will seize control.

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