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E1/Koch begin strategic review
By CMU Editorial | Published on Thursday 12 February 2009
The boss of Canadian music and entertainment company E1 Entertainment, which owns the better known Koch Entertainment group (which, as previously reported, is about to rebrand as E1 itself), has said he has launched a strategic review of the business as it faces a slump in revenues as record sales continue to slide across the North American markets.
The review is likely to lead to further downsizing (the Manhattan office of the Koch record label is already being shrunk and shifted to the Koch distribution facility on Long Island), though E1 boss Darren Throop says he doesn’t anticipate selling or closing any of his company’s divisions.
E1 have also dropped plans to list themselves on the Toronto Stock Exchange. They will, instead, continue to be listed on London’s Alternative Investment Market, where they listed themselves two years ago after originally leaving Toronto’s share markets.
