Want to buy shares in WMG?
p2pnet.net News:- Madonna, Green Day and Linkin Park are up for sale.
Or they will be, in effect, once Big Four record cartel member Warner Music, to whom they’re under contract, goes public.
Yesterday, the company revealed it wants to sell up to $750 million worth of common stock.
“In a Securities and Exchange Commission statement, the company did not estimate how many shares or at what price it planned to offer its stock in the initial public offering, but said shares will be sold by both the company and several shareholders,” says MSNBC.
Warner Music was formed by investors led by Canadian chairman and ceo Edgar Bronfman Jr.
The group bought Time Warner’s music outfit for $2.6 billion.
“Recorded music accounts for 83 percent of Warner Music’s revenue, and the music publishing business accounts for 17 percent,” says Reuters. “The company posted a profit in its fiscal first quarter ended Dec. 31 of $36 million amid cost-cutting actions, compared with a net loss of $1.1 billion a year earlier.
“But revenue during the first quarter, which includes CD sales during the crucial holiday season, declined 7.6 percent to $1.09 billion, compared with the same period a year before, according to documents it submitted to regulators as part of the planned IPO.”
Wonder if they’ll use some of the $750 million to settle with Cher who’s suing Warner/Chappell for non-payment of royalties?
Something you think we should know? tips[at]p2pnet.net
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See:-
MSNBC – Warner Music plans to go public, March 11, 22005
Reuters – Warner Music files for $750 mln IPO, March 11, 2005
non-payment – Cher sues Warner/Chappell, p2pnet, March 8, 2005
March 12th, 2005 at 1:11 pm
considering they spurn their customer base.. sue their friends into bankruptcy, are hemhorraging cash, and refuse to change their unfair and abusive practices to entice new purchasers to their titles i’d say it’s a sure bet to wreck your portfolio.
Ain’t capitalism great!? : )
March 12th, 2005 at 2:49 pm
And then, if you get enough ppl to purchase shares, then when it comes time to “vote” for the current administration, the shareholder could just vote NO and keep voting no…
Sure it would take more shares, sure they are keeping the majority, but when the shareholds start to speak,something they listen…
March 12th, 2005 at 11:42 pm
very expensive toilet paper
-Rick-
March 13th, 2005 at 3:21 am
I’LL PASS any company That allows Axel Rose to spend 13 million bucks over the last decade to produce a new Guns and Roses album and now has nothing but dead air to show for it has no sound biz judgement!!!!!!!
March 13th, 2005 at 3:31 pm
Then we are stockholders. Imagine the stuff we could stir up at stockholders meetings.
Is suing customers in the best interest of the company?
Is not paying artists their royalties in the best interest of the company?
Why are a members of the RIAA giving a percentage of the earnings to them when we could be using that to develop new artists.
The point being we could bring out the abusive behaviour in a public forum, with the very people whose “income” is derived from the actions odf the company. We could begin to get them asking the questions that could 1) possibly change the direction of the company. 2) Bring players into the battle that have been content to sit on their hands and do nothing. People tend to get passionate when people are “Messing with their rice bowl” so to speak.
March 29th, 2005 at 9:02 am
“Is suing customers in the best interest of the company?
Is not paying artists their royalties in the best interest of the company?
Why are a members of the RIAA giving a percentage of the earnings to them when we could be using that to develop new artists.”
Please god do not buy any shares of anything! You are so obviously clueless about the music industry by the above statement that you think the RIAA is involved in artist development is so laughable.
Please please please take yourself out of the race.