Warner Music Group gets set for $1.8 billion IPO

Published on:

Warner Music Group Corp. reignited its plans for an initial public offering, becoming the latest music company to cash in on a streaming boom that’s only accelerated in the coronavirus era.

Backed by billionaire Len Blavatnik, shareholders of the New York-based record group behind artists such as Cardi B, Ed Sheeran and Bruno Mars plan to sell 70 million shares of its Class A common stock priced between $23 and $26 a share — raising as much as $1.8 billion — according to a regulatory filing on Tuesday.

The offering consists entirely of secondary shares to be sold by Blavatnik’s

Read more    Source: fortune.com

Leave a Reply