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EMI Music Publishing is exiting its London home in Charing Cross Road after two decades next month, to move to the second floor of EMI Group's Wrights Lane offices.
A total of 111 employees - including 49 European staff - will be affected by the move, which was apparently planned months ago before Terra Firma's acquisition was approved and comes down to space and cost- saving considerations.
"It makes financial sense," says an insider. "The offices also needed refurbishing and there was the threat of [disruption due to] Crossrail at the site, so there were a few issues to consider."
Roger Faxon - who became chairman and sole CEO of EMI Music Publishing globally in the spring following the departure of Marty Bandier - will continue to remain in charge of music publishing under Terra Firma. Faxon's career is not steeped in music publishing - at the end of 2004 he was still ...