EMI BID TO TEMPT CLIVE CALDER

Daily Express reporter 2/07/11 Express.co.UK

CLIVE Calder, the British music mogul whose Zomba Records made stars of Britney Spears and Backstreet Boys, could be lured out to lead a private equity bid for fallen music giant EMI.

South African-born billionaire Calder built Zomba into one of the leading independent labels before selling it to music group BMG for £1.2billion nine years ago and retiring from the music scene. But there is speculation he may be tempted back to revive EMI’s fortunes.

EMI, home to such stars as Kylie Minogue, was taken over by Citigroup last week from Guy Hands after an investment vehicle set up by his Terra Firma company defaulted on its loans to Citi. The business, which could fetch about £2billion, is likely to be sold or broken up this year.

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