LONDON (CelebrityAccess MediaWire) — EMI's new CEO Roger Faxon is expected to reveal his plan to turn the troubled label in the next two weeks, the New York Post is reporting.
According to the Post, Faxon's plan will see EMI introducing new distribution deals as well as starting to securitize some of their catalogs on the publishing side.
The new distribution deals would include agreements to outsource delivery and sale of music to both retailers and digital distribution outlets, which in theory, would help EMI trim expenses from it's balance sheet.
The securitization of a portion of EMI's catalogs could potentially provide the company with an infusion of liquidity, but this would essentially entail selling at least part of what is a core asset for the company.
"They're looking at new ways to monetize their assets," an unnamed source told the Post. "They're looking for distribution deals or a sale on the recorded music side." – CelebrityAccess Staff Writers