HITS Daily Double

Elio expains music biz to Guy

DON’T JUDGE THE CHILD BY THE PARENT: Documents from Hands’ courtroom battle with Citigroup disclose that Elio Leoni-Sceti warned Hands in October that artists and their managers were “raising concerns” over the impact of EMI’s financial situation on acts, the same story points out. Leoni-Sceti is said to be working on a fresh plan for Hands to present to investors, in the hope that they'll see strong enough prospects to justify further investment. The debate over EMI Music’s ability to compete for acts with commercial potential is central to the record company’s attractiveness to Terra Firma’s investors or to an eventual bidder. Managers and lawyers draw a distinction between Terra’s financial troubles and its recorded music holding’s operations, reporter Andrew Edgecliffe-Johnson notes, citing manager Tim Clark’s statement that “The operational side of the business is working remarkably well. I have to say we’ve been incredibly pleased with how they’ve worked Robbie Williams’ album.” (2/25a)