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Looking to reduce its debt load, Time Warner — the corporate successor to Warner Communications — sold Warner Music Group in 2004 to a group of investors led by Edgar Bronfman Jr. for US$2.6 billion. This spinoff was completed on February 27, 2004.
May 28, 2019 · In 2004, when Warner Music Group was sold by Time Warner and became the world’s largest independent major music company, it was agreed that Warner Bros. Records would continue to use the Warner Bros. name and logo for 15 years.
Mar 2, 2004 · March 2, 2004. Time Warner, the world's largest media company, completed the sale of its Warner Music Group to an investor group that is led by Edgar Bronfman Jr. for about $2.6 billion in...
The company's previous assets included Time Inc., TW Telecom, AOL, Time Warner Cable, AOL Time Warner Book Group, and Warner Music Group; these operations were either sold to others or spun off as independent companies.
Time Warner sold Warner Music Group to a group of investors led by Edgar Bronfman Jr. for $2.6bn in February 2004. WMG held an initial public offering of stock on the New York Stock Exchange in 2005, and remained publicly traded until its next big sale six years later.
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In 2004, when Warner Music Group was sold by Time Warner – splitting from the Warner Bros. movie company – it was agreed that Warner Bros. Records could continue to use the Warner Bros. name and logo for 15 years. That deal term expired in 2019, hence the birth of Warner Records.
On March 1, 2004, Time Warner announced the sale of Warner Music Group to an investor group whose partners included former Universal Music head Edgar Bronfman, Jr.
