EMI Record Label Group Now Taken Over By Citi Group

A label conglomerate purchase that could potentially affect artists like Snoop Dogg, Raekwon and Twista has taken place.

The famed EMI Music Group, which includes labels such as Virgin, Capitol, Priority, Blue Note and others, has been acquired by banking giant Citigroup. According to Billboard.com, the deal took place as a debt-for-equity agreement, reducing the struggling music conglomerate's debt by a reported 65%.

While EMI most notably includes The Beatles and John Lennon's music catalogs, the group also has active ties to Hip Hop artists such as Raekwon, Twista, The Beastie Boys and Snoop Dogg.

At present, EMI Group's CEO Rodger Paxon is reported to stay in office, according to the purchase agreement. HipHopDX will keep you updated.

9 Comments

  • Bryant Carter

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  • Anonymous

    .... 10!!! And it is over, its over people!!!

  • Anonymous

    huh? Damn Banks!!!! Exactly how many offers did you all get if you chose the bankrupt label's record deal??? G-Unot is on the ropes, Purp & Patron released and now they are down for the count... 1,2,3,4

  • the legal team

    funny how dx didn't mention g-unit.

  • JOE6PACKNCGBOR336

    somebody chit getn push back

  • Anonymous

    WHO SIGNS TO A LABEL THAT IS GOING BANKRUPT UNLESS YOU DIDN'T HAVE TO MANY OPTIONS.

  • Anonymous

    Damn Banks and Yoyo!!!! HAHAHAHAHAHAHA

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