Crashing values of EMI

A sign of the Times in the music industry perhaps?

This morning's FT reports that Guy Hands, the boss of private equity group Terra Firma, has admitted EMI is worth £2bn less than he paid for it in 2007.

That for non followers of the music industry has wiped out nearly half of what was paid it whilst Terra Firma has written down its original equity by 90 per cent.

Another sign that the value of recorded content is crashing