EMI acquired by Terra Firma

In 2007, EMI was acquired by the private equity firm Terra Firma . Radiohead were critical of the new management, and no new deal was agreed. The Independent reported that EMI had offered Radiohead a £3 million advance, but had refused to relinquish rights to the band’s back catalogue. An EMI spokesman stated that Radiohead had demanded “an extraordinary amount of money”. Radiohead’s management and Yorke released statements denying that they had asked for a large advance, but had instead wanted control over their back catalogue.