Really? It's that bad? It's that unmanageable? EMI got socked with a disadvantageous CD manufacturing deal a few years back, but come on.
At this point just sell off the assets, even in pieces, to the other three majors, and be done with it. Quit making lame attempts at salvaging a sinking ship while throwing the crew overboard to stay afloat. The artists deserve better. The employees deserve better. The industry desrves better.