Financial Times FT.com

EMI faces tighter budgets

By Andrew Edgecliffe-Johnson in London and Joshua Chaffin in New York

Published: December 30 2007 22:01 | Last updated: December 30 2007 22:01

EMI’s new private equity owners are enforcing tight restrictions on new artist signings and marketing budgets in an attempt to impose stricter discipline in the traditionally profligate music industry.

The moves are likely to be followed by job losses among the UK music group’s 5,500-strong workforce later in 2008.

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