WMG set for $338m acquisitions (and possibly revenue decline)
Posted on: 20 octobre 2020, by : Stuart Dredge

It was a busy day for Warner Music Group yesterday, with several interrelated announcements. First, there was news of the company raising $250m of new funding through a ‘senior secured notes offering’ to be spend to “fund a portion of the aggregate cash consideration for certain acquisitions”.
Later that day, a US regulatory filing offered more information on those plans. “In early October we completed an acquisition for certain music assets, and we recently came to an agreement in principle regarding a second acquisition regarding certain other music and music-related assets… for aggregate cash consideration of approximately $338 million,” explained WMG, noting that it has set aside $90m of cash on top of the $250m offering to pay for the deals.
The post WMG set for $338m acquisitions (and possibly revenue decline) appeared first on Music Ally.
Source: Music ally

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