Warner Music Group Corp - Ordinary Shares - Class A Stock News

The Paramount Global takeover saga has taken a fresh twist with Edgar Bronfman Jr., the media industry veteran who previously headed Warner Music, tabling a $4.3 billion offer for a controlling stake in the business. The deal would see Bronfman take control of National Amusements, the company through which the Redstone family controls the sprawling Paramount media business.

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.18 per share on WMG's Class A Common Stock and Class B Common Stock. The dividend is payable on September 4, 2024, to stockholders of record as of the close of business on August 27, 2024.

Warner Music Group NASDAQ: WMG is in the communication services sector and is one of the “Big 3” companies in the music recording and publishing industry, including Sony Music Group and Universal Music Group OTCMKTS: UMGNF.

Warner Music Group Corp. (WMG) Q3 2024 Earnings Call Transcript

Shares in Warner Music Group Corp. were ahead 4% in premarket trading after the label's earnings matched market expectations and it reiterated guidance for the year.

Financial Highlights Strong Recorded Music Subscription Streaming Growth Underpinned by a Robust Slate and Healthy Industry Trends Continued Momentum in Music Publishing Led by Strength in Digital and Performance Strong Margin Expansion and Double-Digit Growth in Operating and Free Cash Flow Reflect Solid Underlying Performance and Disciplined Cost Management Reiterating Full-Year Operating Cas...

Warner Music Group Corp.'s stock WMG, +1.88% rose 0.9% premarket Wednesday, after the company beat profit estimates for the second quarter, offsetting a small revenue miss. The company had net income of $139 million, or 27 cents a share, for the quarter, up from $122 million, or 23 cents a share, in the year-earlier period.

The Warner Music Group will see CEO of Recorded Music Max Lousada step down at the end of September, the company announced today. Lousada has run the recorded music operation for eight years, and will be an advisor until January 31.