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Monday, August 13, 2012

Warner/Chappell doing better

500% UP? A nugget of good news glittered hopefully amid the red ink of another Warner Music earnings report. It emanated from Warner/Chappell, which registered operating income of $10 million in the company’s fiscal Q3, a remarkable 500% increase over the year-ago quarter’s $2 million, while OIBDA grew 18% to $26 million. So it seems that, while the media focus on WMG’s ongoing struggles in the recorded music sector continues, less notice has been taken of the fact that things appear to be moving in the right direction on the publishing side. (8/13a)

 
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