RUMOR MILL
Friday, February 18, 2011
WMG Stock Downgraded
WMG STOCK DOWNGRADED: Wall Street analysts Fitch Ratings has downgraded Warner Music Group stock from stable to negative, citing disappointing quarterly results despite a robust release schedule, slowing digital revenue and the continued decline of non-digital sales, off 16% in 2010. Fitch expects the company’s “cash interest coverage” to continue to decline and potentially dip below 2.0x over the next 12-18 months. Fitch had previously expected this metric to expand to 2.5x by fiscal year end 2012. The company was recently put on the block with Goldman Sachs. (2/18p)
 FIREAID UPDATE: ALANIS, BLACK CROWES AMONG NEWEST ADDITIONSEverybody who's anybody will be performing. (1/20a)
PERSHING SQUARE PUSHES TO SET UP U.S. LISTING FOR UMG
Ackman won't take no for an answer. (1/16a)
ACADEMY TELESCOPES GRAMMY WEEK EVENTS
The show must go on, with modifications. (1/15a)
| ||
NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
WHO'S BUYING THE DRINKS?
That's what we'd like to know.
|
rumor mail
