NEW YORK, January 04, 2022 (GLOBE NEWSWIRE) – Warner Music Group Corp. (“Warner Music Group”) (Nasdaq: WMG) today announced the price of a subscribed secondary offer (the “Offer”) of a pool of 8,562,500 Class A common shares of Warner Music Group ( “Common Shares”) by companies affiliated with Access Industries, LLC, at a public price of $ 41.00 per share. The offer is expected to close on January 6, 2022. Warner Music Group is not selling any common shares under the offer and will not receive any proceeds.
Morgan Stanley is acting as an underwriter for the offer.
A pre-registration statement (including a prospectus) relating to the Common Shares has been filed with the SEC and has become effective. The offer is being made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents can be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or free of charge from the website of the US Securities and Exchange Commission ( the “SEC”) at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to the registration or qualification under the securities laws of that jurisdiction.
About Warner Music Group
With a heritage stretching back more than 200 years, Warner Music Group is today home to an unprecedented family of creative artists, songwriters and companies who are moving culture around the world. At the heart of Warner Music Group’s Recorded Music division are four of history’s most iconic companies: Atlantic, Elektra, Parlophone and Warner Records. They are joined by renowned labels such as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Reprise, Rhino, Roadrunner, Sire, Spinnin ‘Records, Warner Classics and Warner Music Nashville. Warner Chappell Music – whose origins date back to the founding of Chappell & Company in 1811 – is one of the world’s leading music publishers, with a catalog of over one million copyrights spanning all musical genres, from the standards of the Great American Songbook to the greatest hits of the 21st century.
This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements regarding expectations as to the closing of the offering. The forward-looking statements contained in this document involve risks and uncertainties which could cause actual results to differ materially from those mentioned in the forward-looking statements. More information on Warner Music Group and other risks associated with Warner Music Group is detailed in Warner Music Group’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q and current reports. on Form 8-K as filed with SECOND. Warner Music Group does not undertake to update any forward-looking statements.
Additional factors that may affect future results and conditions are described in documents filed by Warner Music Group with the SEC, which are available on the SEC’s website at www.sec.gov or at Warner Music Group web at www.wmg.com.
James Steven [email protected]
Investor Relations Contact:
Kareem Chin [email protected]
Copyright 2022 GlobeNewswire, Inc.