billyworld99
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On Tuesday 8th February 2011, @KarmenJackson said:
At the end of January some news suggested that $ony/ATV or KKR would buy Warner-Chappell; and Warner Music or BMG would buy EMI.
Owners of EMI - Terra Firma. They agreed on a loan with Citigroup on 2007 to buy EMI. Now they need money to pay the bank. Deadline: March 31st.
But Citigroup is not interested in owning EMI, so they contacted some guys and 2 were interested: Warner Music and BMG Rights.
Warner wants to sell his publishing catalog (Warner-Chappel) so they will be able to buy EMI.
Thing is, Warner-Chappel owns MiJac.
Warner has requested advise from Goldman and Sachs, the same firm that 8 years ago told Michael to sell both catalogs.
Citigroup is the same bank that refinanced the Fortress loan with the Bank of America, back in 2006. Thanks to that, $ony had the power to buy the MJ's 50% stake in $ony/ATV (and finally gained power over the catalog)
HSBC loaned $300 millions against MiJac 4 years ago. Plainfield Asset Management also loaned $40 million. Plainfield has a lot of brokers but 2 of them are: Goldman and Sachs and Citigroup.
MiJac was put as collateral in 2007 for these two debts: Bank of America and the $ony advance ($7 million).
MJ's stake in $ony/ATV is under New Horizon Trust II until December 10, 2012. Refinanced in November 2010. That includes BMI (solo songs) and Warner (MiJac).
MiJac is under New Horizon Trust III until the same date. The debts are handled by HSBC and Plainfield Gaming Inc. It was refinanced by the Estate.
Both New Horizon's are still active.
All debts should be payed on 2011, but no later than 2012.
http://www.twitlonger.com/show/8mok42
At the end of January some news suggested that $ony/ATV or KKR would buy Warner-Chappell; and Warner Music or BMG would buy EMI.
Owners of EMI - Terra Firma. They agreed on a loan with Citigroup on 2007 to buy EMI. Now they need money to pay the bank. Deadline: March 31st.
But Citigroup is not interested in owning EMI, so they contacted some guys and 2 were interested: Warner Music and BMG Rights.
Warner wants to sell his publishing catalog (Warner-Chappel) so they will be able to buy EMI.
Thing is, Warner-Chappel owns MiJac.
Warner has requested advise from Goldman and Sachs, the same firm that 8 years ago told Michael to sell both catalogs.
Citigroup is the same bank that refinanced the Fortress loan with the Bank of America, back in 2006. Thanks to that, $ony had the power to buy the MJ's 50% stake in $ony/ATV (and finally gained power over the catalog)
HSBC loaned $300 millions against MiJac 4 years ago. Plainfield Asset Management also loaned $40 million. Plainfield has a lot of brokers but 2 of them are: Goldman and Sachs and Citigroup.
MiJac was put as collateral in 2007 for these two debts: Bank of America and the $ony advance ($7 million).
MJ's stake in $ony/ATV is under New Horizon Trust II until December 10, 2012. Refinanced in November 2010. That includes BMI (solo songs) and Warner (MiJac).
MiJac is under New Horizon Trust III until the same date. The debts are handled by HSBC and Plainfield Gaming Inc. It was refinanced by the Estate.
Both New Horizon's are still active.
All debts should be payed on 2011, but no later than 2012.
http://www.twitlonger.com/show/8mok42
