NY Post: WMG 'Stronger Than Numbers Suggest'
November 25, 2009 at 5:38 AM (PT)
Although WARNER MUSIC GROUP reported a Q4 loss YESTERDAY (NET NEWS 11/24), PETER LAURIA writes in TODAY's NEW YORK POST that "EDGAR BRONFMAN's record label is doing relatively well in a challenging environment."
WMG is now bringing in $184 million in digital revenue for the quarter, which is 21% of the label's overall earnings.
Writes LAURIA, "WMG's financial position is a lot stronger than its top-line numbers would suggest. The label has $384 million in cash on hand and only $1.9 billion in debt, giving it the resources to take another run in its decade-long pursuit of EMI."
Read the full report here.