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Prospector
Profile
c09
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| Warner Music Group Corp. |
NAICS |
512230 |
| 75 Rockefeller Plaza
New York, NY 10019 |
Description |
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| (212) 275-2000 |
Employees |
3400 |
| http://www.wmg.com/ |
Revenue |
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$ 3176.00 |
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Income |
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$ 100.00 |
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Assets |
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$ 4070.00 |
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Liability |
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$ 4213.00 |
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(for the year ended - 09-30-2009) |
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Category:
Loss/Deficit
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Event:
Warner Music Group Corp. reported a net loss of $18 million for the fiscal fourth quarter ended Sept. 30, 2009, from net income of $6 million for the same period a year ago. Warner posted wider net loss of $100 million for the fiscal year ended Sept. 30, 2009, from net loss $56 million for fiscal 2008.
For the quarter, revenue grew 0.8% to $861 million from $854 million in the prior-year quarter, and was up 4.7% on a constant-currency basis. For the fiscal year, revenue declined 9.0% to $3,176 million from $3,491 million in the prior year, and was down 3.4% on a constant-currency basis.
At Sept. 30, 2009, the Company had $4.07 billion in total assets against $4.21 billion in total liabilities, resulting in $143 million stockholders' deficit. The Sept. 30, 2009 balance sheet showed strained liquidity: The Company had $1.22 billion in total current assets against $1.87 billion in total current liabilities.
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Intellectual Property:
Warner Music Group considers trademarks to be valuable assets to our business. The Company's major trademarks include Atlantic, Elektra, Sire, Reprise, Rhino, WEA and Warner/Chappell. It also uses certain trademarks pursuant to royalty-free license agreements. Of these, the duration of the license relating to the WARNER and WARNER MUSIC marks and W logo is perpetual. [SEC Filing 10-K 11-24-09]
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Description:
Warner Music Group Corp. is a music content company that classifies its business interests into two areas: Recorded Music and Music Publishing. The Recorded Music business produces revenue through the marketing, sale and licensing of recorded music in various physical (such as compact disc's, cassettes, long playings and digital versatile discs) and digital (such as downloads and ringtones) formats. The Music Publishing business owns and acquires rights to musical compositions, exploits and markets these compositions and receives royalties or fees for their use. The Company publishes music across a range of musical styles. The Company owns or controls rights to more than one million musical compositions, including a number of pop music hits, American standards, folk songs, and motion picture and theatrical compositions. In Aug. 2008, Warner Music Group Corp. bought a majority stake in a Spanish company specializing in artist management.
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Officers:
Edgar J. Bronfman Jr. (Chair. & CEO); Lyor Cohen (Vice Chair.); Michael D. Fleisher (Vice Chair.); Steven Macri (EVP & CFO)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock Symbol WMG; NYSE; 154,590,926 shares of common stock outstanding as of Nov. 20, 2009.
9.50% Senior Secured Notes due 2016;
7.375% U.S. dollar-denominated Senior Subordinated Notes due 2014;
8.125% Sterling-denominated Senior Subordinated Notes due 2014;
9.5% Senior Discount Notes due 2014.
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