Terra Firma’s Guy Hands Breaks Silence on EMI: ‘We Learned Some Very Expensive Lessons’

From The Hollywood Reporter:

Guy Hands, founder and chairman of private equity firm Terra Firma, spoke rather candidly on the missteps he and his firm made in its management of EMI in a video interview posted today on Bloomberg (below). Terra Firma purchased the music company for some $6.3 billion in May 2007 at the height of the credit market and three-and-a-half years later Citigroup took back possession of the label in what amounted to a foreclosure deal.