EMI, which has the Beatles, Coldplay, Lily Allen and Pink Floyd on its books, had hoped to raise around 200 million pounds ($304 million) by offering its rivals a five- year licensing contract.
A source close to both sets of talks, who requested anonymity because the discussions were private, said Thursday that they fell apart after a failure to agree on price.
That leaves EMI, owned by private equity group Terra Firma Capital Partners Ltd., battling to raise 120 million pounds by mid-June to meet its commitments on loans from U.S. bank Citigroup.
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