Music Ally

Yesterday’s Telegraph newspaper has a story on EMI, and its battle to meet financial targets set by Citigroup, which lent Terra Firma £2.5 billion to buy the company. Apparently the just-renegotiated target is for EMI to generate underlying earnings of £180 million by September. But the interesting part is buried midway down the story: a long-term plan codenamed Project Poker to merge the recorded music divisions of EMI and Warner Music Group. No approach has been made to Warner, but the strategy would be to sell on some music publishing assets in order to avoid regulatory constraints,  says the story.

Tags: WMG and EMI merge

This entry was posted on Monday, May 19th, 2008 at 4:21 pm and is filed under Digital Music News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.