London - Fresh off of its $4.8 billion acquisition of major record label EMI Group, private equity firm Terra Firma has replaced the two top executives at the company, CEO Eric Nicoli and CFO Martin Stewart.

London - In a watershed moment for the music industry, major record label EMI Music announced on Monday that it will begin selling songs free from digital rights management (DRM) -- in a higher-quality file and for a premium price -- at online retailers, starting with Apple's iTunes Store.