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July 29, 2015 8:31 AM ET

Media

Company Overview of Warner Music Group Corp.

Company Overview

Warner Music Group Corp. operates as a music-based content company. It operates in two segments, Recorded Music and Music Publishing. The Recorded Music segment is involved in the discovery and development of artists; and the related marketing, distribution, and licensing of recorded music produced by such artists. It also specializes in marketing its music catalog through compilations and reissuances of previously released music and video titles, as well as in the licensing of recordings to and from third parties for various uses, including film and television soundtracks. This segment conducts its operations primarily through record labels, including Warner Bros. Records and The Atlantic R...

1633 Broadway

New York, NY 10019

United States

Founded in 1929

4,180 Employees

Phone:

212-275-2000

Key Executives for Warner Music Group Corp.

Chief Executive Officer, President and Director
Age: 69
Chief Financial Officer and Executive Vice President
Age: 53
Chief Executive Officer of Word Entertainment and President of Word Entertainment
Atlantic Senior Vice President of A&R & Marketing and President of Elektra
President of Rhino Entertainment
Compensation as of Fiscal Year 2015.

Warner Music Group Corp. Key Developments

Big Machine Not Up For Sale

Scott Borchetta has decided not to sell his company, atleast for now. While a number of companies were said to be interested in acquiring Big Machine. Borchetta had talks with Sony Music Entertainment Inc., Warner Music Group Corp., iHeartMedia, Inc. (OTCPK:IHRT), Snapchat, Inc. and some private equity firms — in the end, Scott Borchetta apparently didn't get the deal he wanted. Sources initially suggested he was looking for a valuation of $225 million to $250 million, but added that interested parties looking at Big Machine Label Group were putting the valuation at around $185 million to $200 million.

Warner Music Group Corp. Announces Resignation of Robert S. Wiesenthal as Chief Operating Officer, Effective from June 30, 2015

Warner Music Group Corp. announced that Robert S. Wiesenthal and the company have mutually agreed that Mr. Wiesenthal will be stepping down from his role as Chief Operating Officer/Corporate of the company as of June 30, 2015. Pursuant to a separation and release agreement dated June 16, 2015 between Mr. Wiesenthal and the company, Mr. Wiesenthal has agreed to remain employed by the company in a consulting capacity until September 30, 2015. During the period from July 1, 2015 through the separation date, Mr. Wiesenthal will not serve as an employee of the company or any of its affiliates, but will be available as needed, on a non-exclusive basis, to provide such assistance and information as the company may reasonably request.

Warner Music Group Corp. to Pay USD 4.2 Million to End Intern Wage Lawsuit

Warner Music Group Corp. has agreed to pay hundreds of former interns more than USD 4.2 million to resolve a class-action lawsuit accusing the company of underpaying them. The settlement requires court approval, and covers interns who were paid nothing or less than minimum wage, in periods dating as far back as June 2007 for those working in New York. Warner Music reserved the right to terminate the settlement if the number of claimants exceeds 1,135. Lawyers for the interns may seek up to 18.6% of the settlement amount as attorney fees, or USD 787,500.

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