EMI's new owner is promising not to sell the label, but rather to focus on servicing artists and developing new talent. In an interview with the UK's Gaurdian, Terra Firma head Guys Hands says, "What you've got is an incredible history. It's extraordinary. They have a real love for EMI. But they need EMI to serve their artists in a way that is better than any of the other majors,"
"The independent record labels are a lot livelier," said Hands. "The vision of EMI is to be big enough to do everything we can for every artist, but small enough to care for every artist."
COMMENTARY: Admirable talk. But how do you turn a fat major label into a large indie with clout? It will mean even more drastic cost cutting and slashes in the executive suites. I hope I'm wrong, but I'm skeptical that an investment firm has the guts to bring about radical change or the knowledge to know where to take things if they do. Let's keep a head count of how many expensive VP's the company has (right now there are many) as a measure of Hands' seriousness.