Warner Music Decides on IPO Range

Get the WebProNews Newsletter:

[ Business]

Warner Music Group has decided on a range of $22 to $24 for its initial public offering.

The company plans on selling 32.6 million shares which should make up to $782 million.

Warner Music is also in discussions with Time Warner to buy back warrants that let the company take a 15 percent stake at a discounted price.

According to a CNN article,

“By exercising the three-year warrants, Time Warner could pay $284.4 million based on an IPO of $23 a share, the music company said. If Time Warner pays cash, it would own about 19 million shares of common stock and if it does not use cash, 6.6 million. CNN/Money is a unit of Time Warner.

A group of investors led by media mogul Edgar Bronfman Jr. bought the smallest of the four major record companies from Time Warner last year for $2.6 billion. The warrants were issued in connection with the takeover by Bronfman, Thomas H. Lee Partners, Bain Capital and Providence Equity Partners.”

The company was sold by Time Warner only a year ago.

WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.

Warner Music Decides on IPO Range
Comments Off on Warner Music Decides on IPO Range
Top Rated White Papers and Resources

Comments are closed.

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom