A day after “Blackout Tuesday,” Warner Music Group announced a $100 million fund intended to support causes related to social justice and campaigns against violence and racism.
was released by Warner Music Group subsidiary Atlantic Records, and Access Industries owner Len Blavatnik, photographed at a pre-Grammys party on Feb. 7, 2019 in Los Angeles.Stefanie Keenan/Getty Images for Warner Musicwas released by Warner Music Group subsidiary Atlantic Records, and Access Industries owner Len Blavatnik, photographed at a pre-Grammys party on Feb. 7, 2019 in Los Angeles.
Warner Music Group, parent company to labels like Atlantic, Elektra and Parlophone and artists like Cardi B and Ed Sheeran, has listed 77 million new shares on the Nasdaq, at $25 per, raising a potential $1.925 billion, if that valuation holds. The company says it generated $4.5 billion in revenue last year.
Detail from an image included in Warner Music Group's prospectus filing with the SEC, depicting artists that work with the company.Warner Music Group was purchased by Access Industries, the multinational company of Ukraine-born billionaire Len Blavatnik, in 2011the same year that Spotify landed on U.S. shores. The arrival of Spotify, after years of shrinking balance sheets throughout the recorded music industry, made Blavatnik's timing for buying into the music fray fairly impeccable.
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