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The New York Observer

PLAZA WATCH! Former EMI Chief Buys for $6.2 M.

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March 11, 2008 | 5:39 p.m
PLAZA WATCH! Former EMI Chief Buys for $6.2 M.

The former chairman and chief executive of EMI Records, Alain Levy, has paid $6.2 million for an 18th-floor condo at the Plaza, according to city records. Mr. Levy left EMI a little over a year ago after the record label issued a profit warning to shareholders forecasting a 6 to 10 percent decline in revenue for the 2007 fiscal year. The Times of London reported that Mr. Levy was to recieve a severance package worth up to 7 million pounds upon his departure from EMI; so, with the pound worth twice the dollar, it's almost like he got the apartment for free.

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