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Music Giant EMI on the Ropes

The massive loans that a London financier used to acquire the music company EMI are endangering the giant's future. One exec Elio Leoni-Sceti bailed on the company last week as EMI was trying to put together a rescue package. Private equity group KKR is tag teaming with Warner Music, hoping to create a plan which could break up the music rival. EMI's talent over the years has included The Beatles, Pink Floyd, and Queen. Its prominence, according to The Guardian, was synonymous with the decades-long reign of British pop music.