His name is Guy Hands and he’s the chairman of Terra Firma, a private investment group that owns EMI. Hands recently secured enough money to keep the music company afloat.

In a statement, EMI’s executive chairman Charles Allen said:

“We are very pleased to have received this confirmation of an additional investment, which is a vote of confidence in EMI from Terra Firma and its investors, following the significant improvement in the company’s operating performance.”

EMI currently publishes [lastfm]Coldplay[/lastfm], [lastfm]The Beatles[/lastfm] and [lastfm]Gorillaz[/lastfm].  [lastfm]Paul McCartney[/lastfm] recently announced that he would be moving his back catalogue to Universal. [lastfm]Queen[/lastfm] (what’s left of them) are also reportedly contemplating a move to Universal.

However, in a world of increasingly free and low-cost digital media, both music giants continue to struggle with maintaining relevancy.

What do you think?

[Source: MusicNews]