Bob Lefsetz says yes – April Fools Joke?
Editor – EMI is is desperate financial trouble and may fall into the hands of its creditors. We have no idea if this is an April Fools Joke. The only references on the web are linking back to Bob Lefsetz.
Bob Lefsetz – And the Beatles join the iTunes Store just in time for Saturday’s iPad launch.
The deal… Just like with Apple’s purchase of Lala, no hard numbers have been released. But both Citi and Terra Firma are happy. Citi gets its money back, and Guy Hands gets to save face, Terra Firma’s covenant breaches become irrelevant, there’s no need to raise and inject new capital and by selling to Jobs, et al, Hands gets to spin the concept that this was his plan all along.
Yes, the catalog license was just a ruse. Because, after all, everyone knows that Mr. Hands is smarter than Doug Morris and Mel Lewinter. Lucian Grainge? He’s a glorified A&R guy with a bean counter mentality. Hands played the Universal boys like a fiddle. Do you really think he’d place the Fab Four’s music in the hands of such charlatans? When he can put it in its rightful place, in the bosom of Steve Jobs, and see it live forever? Continue reading →