Warner Music Wants to Go Public -- Again

After spending the past eight years as a private company, Warner Music Group, whose roster includes superstars like Lizzo, filed for an IPO.After spending the past eight years as a private company, Warner Music Group is looking to come back on the public market, the major label announced on Thursday, filing an Initial Public Offering request through the U.S. Securities and Exchange Commission.

The announcement comes just after a record first quarter for WMG in which the label pulled in $1.25 billion in revenue and netted $122 million in income, a nearly 42% income increase from the same quarter a year ago. It was the highest quarterly revenue Warner had in 16 years since splitting from Time Warner in 2004, WMG CEOWarner Music has been a private company since industrial group Access Industries, led by chairman Len Blavatnik, purchased the label in 2011 for $3.3 billion.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warner Music Group Files for IPOAccess Industries Inc.’s Warner Music Group filed documents to sell shares to the public amid a streaming-fueled resurgence in the music industry. Can they sign me then Must get a nutcracker for next Christmas The music industry is dying. Artists can do it all themselves, and if the music is good, the radio will play it.
Source: WSJ - 🏆 98. / 63 Read more »

Inside the Earnings: A Closer Look at Warner Music's Record QuarterWarner Music Group continues to improve its margins and profitability in its fiscal first quarter of the year, a quarter that the company said was the highest in its history as a stand-alone company, which began in 2004 when Time Warner sold off WMG to a private equity consortium which in turn sold the company in 2011 to Len Blavatnik's Access Industries.
Source: billboard - 🏆 112. / 63 Read more »