Rumour: Project Poker to merge WMG and EMI recorded music divisions
Monday, May 19th, 2008
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. (more…)
