EMI Makes Some Cuts
Reported by simple
Rumors strongely suggest that EMI, which owns Capitol and Virgin Records among other labels, is on the verge of striking Iggy Pop, Ben Harper and Perry Farrell from the label. Virgin insiders said Paul McCartney and Mick Jagger (as a solo artist) just missed the axe, because EMI makes so much money selling their old Beatles and Rolling Stones albums. Keep in mind that EMI lost a ton of money when this year when they paid Mariah Carey $50 million to not put out another album.