Warner Music Group files for IPO in the latest sign of music industry resurgence

When billionaire Len Blavatnik bought Warner Music Group for $3.3 billion in 2011, the major labels were still reeling from the digital revolution that had turned the business upside down.

The Los Angeles-based company, which represents artists including Ed Sheeran and Cardi B, said in a regulatory filing Thursday that it intends to hold an initial public offering, though it has not said when.Warner Music has grown substantially in value from what it was worth nine years ago, when Blavatnik bought the publicly traded company and took it private, according to analysts.IPOs are inherently risky, and there’s no certainty that an offering by Warner Music will happen.

Warner Music’s revenues have grown steadily in the last several years, according to the IPO filing. Sales were $4.48 billion in fiscal 2019, up from $4.01 billion the year before and $3.58 billion in 2017.

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 »

Warner Music Wants to Go Public -- AgainWarner Music Group has filed an IPO to become a public company for the first time since 2011
Source: RollingStone - 🏆 483. / 51 Read more »