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Monday, May 21, 2012

Warner/Chappell a bright spot

A BUNNY BRIGHT SPOT: Has Warner/Chappell turned the corner and once again become a force to be reckoned with? The pubco’s performance was a point of emphasis on the part of Stephen Cooper during the WMG earnings call last week, and for good reason, considering the ongoing slump on the record side. Highlights for WCM during the most recent quarter included sharing 2012 ASCAP Pop Publisher of the Year honors with EMP; signing new deals/extensions with Bruno Mars, Van Halen, Paramore’s Hayley Williams and Michael Buble; and landing breakthrough band Fun. Operating income was up 16% to $36 million, while OIBDA was up 8% to $54 million—solid stats given the value of publishing these days. (5/21a)

 
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