Warner Music Group has filed an IPO to become a public company for the first time since 2011
After spending the past eight years as a private company, Warner Music Group, whose roster includes superstars like Lizzo, filed for an IPO.After spending the past eight years as a private company, Warner Music Group is looking to come back on the public market, the major label announced on Thursday, filing an Initial Public Offering request through the U.S. Securities and Exchange Commission.
The announcement comes just after a record first quarter for WMG in which the label pulled in $1.25 billion in revenue and netted $122 million in income, a nearly 42% income increase from the same quarter a year ago. It was the highest quarterly revenue Warner had in 16 years since splitting from Time Warner in 2004, WMG CEOWarner Music has been a private company since industrial group Access Industries, led by chairman Len Blavatnik, purchased the label in 2011 for $3.3 billion.
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