Financial Times FT.com

EMI risks artists' anger over budget cutbacks

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

Published: December 31 2007 02:00 | Last updated: December 31 2007 02:00

Terra Firma, EMI's new private-equity owner, is 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 EMI's 5,500-strong workforce in 2008.

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