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. In the latest sign of renewed optimism, Warner Music Group, the third-largest music company by market share, has signaled its intent to go public. IPOs are inherently risky, and there’s no certainty that an offering by Warner Music will happen. Warner Music broke off from Time Warner Inc. in 2004. Warner Music reported quarterly net income of $122 million, up 42% from the same period a year ago.

Source: Los Angeles Times February 06, 2020 23:46 UTC