Making Money
MAKING MONEY: Len Blavatnik’s winning $3.3 billion bid for Warner Music Group values the shares of the company at $8.25, a far cry from the $15 to $16.40 they sold for at the IPO six years ago. Joining Edgar Bronfman to buy the company from Time Warner in 2004 for $2.6 billion was a consortium led by THL Partners, Bain Capital and Providence Equity, besting a bid from EMI at the time. THL held the largest position at 51%, putting $525 million of its own money into the deal, with Bain Capitol at about 25%, while Bronfman and Providence split the rest. Investors are expecting a return of about two times their initial outlay from the Access deal, with THL alone expected to generate an internal rate of about 34%. Who’s a Fortune’s Fool now? (5/6p)
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
