Warner Music Group $103 million block trade
Davis Polk advised the underwriter in connection with the $103 million block trade of 2,340,000 shares of Class A common stock of Warner Music Group Corp., sold by AI Entertainment Holdings LLC and Altep 2012 L.P., the selling stockholders. The Class A common stock is listed on the Nasdaq under the symbol “WMG.”
Warner Music Group is one of the world’s leading music entertainment companies. Its renowned family of iconic record labels, including Atlantic Records, Warner Records, Elektra Records and Parlophone Records, is home to many of the world’s most popular and influential recording artists. In addition, Warner Chappell Music, the company’s global music publishing business, boasts an extraordinary catalog that includes timeless standards and contemporary hits, representing works by over 80,000 songwriters and composers, with a global collection of more than one million musical compositions.
The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associate Courtney Y. Sohn. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associate Lauren Nathan. The tax team included partner Lucy W. Farr and associate Eitan Ulmer. All members of the Davis Polk team are based in the New York office.