As an investor in Terra Firma's last 2 funds, I can tell you that Guy Hands and his team are smart cookies. TF often invests where others fear to tread--industries in desperate need of change. More often than not, they've been successful in their turnaround efforts. While that doesn't guarantee success with EMI, the music biz certainly seems broken.
This "memo" made news this weekend, but it is similar to what we've been hearing for some time. Nevertheless, it will be interesting to see how this one plays out--fingers crossed here. To read more about Terra Firma and it's previous investments see www.terrafirma.com. Slashdotters might be interested in TF's renewable energy business, Infinis, which was created out of a landfill business, Waste Recycling Group, and now accounts for something like 10-11% of the renewable energy in the UK.