The EMI Group, also known as EMI Music or simply EMI, was a British multinational music company headquartered in London, United Kingdom, now part of Universal Music Group. It was the fourth-largest business group and family of record labels in the recording industry and was one of the big four record companies (now the "big three"). EMI Group also had a major publishing arm, EMI Music Publishing – also based in London with offices globally. EMI was a member of the RIAA & IFPI.
The company was once a constituent of the FTSE 100 Index, but faced financial troubles and $4 billion dollars in debt, leading to its acquisition by Citigroup in February 2011. [2][3] Citigroup's ownership was temporary, as it announced in November 2011 that it would sell its music arm to Vivendi's Universal Music Group for $1.9 billion, and EMI's publishing business to a Sony/ATV consortium for around $2.2 billion. Other members of the Sony consortium include Blackstone and Abu Dhabi-owned investment fund Mubadala. [4] Both before and after the sale announcement, Universal Music Group pledged to sell off EMI assets to the value of half a billion euros.
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