Report: Guy Hands Repairing Relationship With EMI Artists

Leaked Letter

GUY HANDS has written a letter to EMI recording artists -- assuring them that they are "at the epicentre" of his plans to turn around the struggling music company, writes U.K.'s THE TELEGRAPH. The TERRA FIRMA boss circulated a letter last month to EMI's artists following reports that his private equity firm was preparing to axe acts who do not work hard enough.

The reports had been based on an earlier leaked letter to EMI's staff in which HANDS said, "While many [artists] spend huge amounts of time working with their label to promote, perfect and endorse their music, some unfortunately simply focus on negotiating for the maximum advance -- advances which are often never repaid. However, once EMI has the best products and services in music and the best culture for working together then, as already exists within some of our labels, it will be open to us to choose which artists we wish to work with and promote."

In a bid to quell fears of a major cull of EMI's roster, HANDS tells artists that the quotes taken from that earlier letter were "highly selective." He writes, "Firstly, let me say how much I am looking forward to working with you, your managers and our staff at EMI to transform the company into the really successful business we know it can and should be. TERRA FIRMA is very committed to the future of EMI and the contribution of our artists is central to the success of the company."

He adds, later, "Believe me, I do know how hard you work in the creation and promotion of your records. We really value the collaborative relationship you have with the many EMI staff globally, who work on your projects. The point I was trying to make was that when EMI MUSIC provides truly world-class service levels to you all, we would then earn the right to choose the artists we work with and we would want to work together to ensure our mutual success."

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