Blue Note changes “Hands”, again

Breaking news:

UK music firm EMI today announced it will sell its recorded music unit for £1.2bn  ($1.9bn) to Universal Music. Universal Music is a unit of Vivendi, the French media company. EMI’s labels include Blue Note, Capitol, Parlophone and Virgin Records.

“Universal Music Group is committed to both preserving EMI’s cultural heritage and artistic diversity and also investing in its artists and people to grow the company’s assets for the future.” says Vivendi’s Chief Executive.

Hedge Fund Terra Firma run by Guy Hands (below) bought EMI at the peak of the market for a whopping $4bn, and looks like having turned in a $2bn loss for its investors.

Guy Hands, last seen escaping in a yellow submarine

It failed in its suit against its financial advisors Citicorp for bad advice. Looks bad advice from where I stand. Hands was quoted the other day as saying “the days of speculation and quick returns must end”. Sounds like hindsight to me.

Charles Mingus presents Charles Mingus (1960)

Gallery

This gallery contains 3 photos.

Track selection: “Original Faubus Fables” >  (Parental Advisory Explicit Lyrics) Artists Ted Curson (tp) Eric Dolphy (as, bcl) Charles Mingus (b, vo) Dannie Ritchmond (d, vo)  Recorded Nola’s Penthouse Sound Studios, NYC, October 20, 1960 Music Mingus’s record companies, apparently, refused to release Faubus as Mingus wanted, complete with … Continue reading