Warner Music Group is forging ahead with its stock market debut -- amid both the coronavirus pandemic and rumors of its potential acquisition by a Saudi Arabia-controlled fund.
The Saudis' offer would be a late-stage attempt to buy WMG outright, or purchase a minority share if Blavatnik wants to retain a majority of the company. The clock is ticking: with approval from Nasdaq for an IPO, WMG can begin what's called"the road show" to gin up the interest of large investors and go public in just a few weeks.
The time seems right, since stocks have recovered much of March and April's losses, and markets could slip again if a second pandemic wave creates more price volatility.WMG's valuation will be between $15 billion and $16 billion on the top end, and between $10 billion and $12 billion on the bottom end.a $74 million net loss on revenues of $1.071 billion for the three-month period ended March 31 -- representing a net income decline of $141 million and a 1.
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