Deals
Warner Music Delays IPO Pricing for Blackout Tuesday
- Shares of music company still expected to trade Wednesday
- Share sales this week are set to raise up to $6.4 billion
Warner Music Group offices in Burbank, California.
Photographer: Patrick T. Fallon/Bloomberg
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Warner Music Group Inc. delayed the pricing of its initial public offering until Wednesday to avoid the shares being sold on a day the music industry set aside to support protests against police brutality in the U.S., according to people familiar with the matter.
Entertainers and celebrities called for online musical performances and related events to be canceled on “Blackout Tuesday” to show support for the protests, which began after George Floyd, an unarmed black man, died May 25 after a white Minneapolis police officer knelt on his neck.