The next Coldplay album could be brought to you by Sudafed, under plans being unveiled by Guy Hands on Tuesday to boost EMI’s flagging earnings with corporate sponsorship. “Football teams have very distinct corporate sponsorship. Why shouldn’t some of the leading bands have the same sort of relationships?”, said Guy Hand to the FT. As an example, he said EMI could help bands who would not make it on the international stage find local sponsors who want to break into the student market. He dismissed outsiders’ claims that his purchase could face financial trouble. Citigroup – which financed the £4bn EMI deal – had agreed for his buy-out fund to put £200m of extra equity into the company last year, he said, and Terra Firma had raised £250m of cash from co-investors in its funds in the past week. (Financial Times)
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