EMI Set To Implode?

by Brian Riewer on March 16th, 2010

According to a fantastic bit of journalism done over at Consequence of Sound, it appears as though it is only a matter of time before EMI completely falls apart and the “big four” of the recording industry becomes the “big three”. Despite having one of the most envious back catalogues and current rosters of any label, which includes the likes of The Beatles, The Rolling Stones, Elvis Presley, The Beach Boys, Radiohead, Coldplay, the Beastie Boys, and Daft Punk, EMI is currently billions in debt to lender Citigroup and is trying to fend off both their take over and a buyout by Warner Bros. and private equity firm KKR. As CoS reports, they apparently have three weeks to come up with some sort of Hail Mary rescue plan to save the corporation, but as things stand, it does not look good.