The company today postponed a quarterly earnings report two weeks to undergo an "impairment review" process to reassesses the value of assets carried on its balance sheets, according to Webnoize.
The company expects to record a "significant non-cash charge" upon completion of the review.
Earlier this month the company laid off 66 employees, or 36% of its work force, and closed a New York office.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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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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