Jay-Z And Beyonce To Buy EMI?

"Can we use this as collateral?"

According to sources close to the matter, Shawn "Jay-Z" Carter and Beyonce Knowles have reached an agreement to purchase record company EMI for $2.5 billion. The newly-formed musical conglomerate will be called Jay-B'EMI Recordings.

Citi, which took control of embattled EMI earlier this year, is said to have accepted the couple's bid and rejected others from the likes of Edgar Bronfman's Warner Music Group, Steve Jobs' Apple, and railway tycoon Sir Topham...