WMG Reports 3Q Loss

WMG Reports 3Q Loss
Warner Music Group reported a third-quarter loss of $55 million, a wider deficit compared to a loss of $37 million during the year-ago quarter, and a 16 percent drop in revenue to $652 million. Recorded music revenue declined 17.9 percent to $519 million, while recorded music digital revenue grew 3.7 percent. Music publishing revenue decreased 6.1 percent to $139 million and digital publishing revenue also dropped 13.3 percent to $13 million. (8/5)

Wyclef Jean To Run For Haitian Presidency
GRAMMY winner Wyclef Jean is preparing to formally declare his candidacy for the Haitian presidency and is expected to file election papers Thursday at the provisional electoral council in Port-au-Prince, Haiti. Effective immediately, Jean announced his resignation of the chairmanship for YĆ©le Haiti, an organization he co-founded in 2005 to raise money and build global awareness for Haiti. The presidential election will be held Nov. 28 in Haiti. (8/5)

Email Newsletter