Warner Music Sets IPO at 32.6M Shares
Washington – Underwriters for Warner Music Group Corp. on Monday set the terms of the record company’s pending initial public offering at 32.6 million shares with an estimated price range of $22 to $24 a share. According to an amended prospectus filed Monday with the Securities and Exchange Commission, 5.43 million of the total shares are being offered by selling holders. Warner Music Group acquired substantially all of Time Warner Inc.’s music division in March 2004 for $2.6 billion. The company is backed by a group of investors that includes the company’s chief executive, Edgar Bronfman Jr., as well as… Read more »
