Quarterly Report Card For Warner Music: C-
Warner Music Group, the world’s third largest record company, posted a wider quarterly loss on Tuesday as the company contends with rapidly dropping music sales in the United States. Net loss widened to $17 million, or 12 cents per share compared with a loss of $14 million, or 10 cents per share for the year-ago quarter. For the three-month period ending June 30th, revenues dipped a mild 2% to $804 million, from $822 million...
Jay-Z Looking To Leave Def Jam?
Rumors are swirling that after only three years as Def Jam’s president, Jay-Z wants to leave the label for the warmer waters of Columbia Records. The draw may be Rick Rubin who was recently hired by Columbia. Jay-Z and Rubin are long time co-conspirator’s and the word on the street is that Rick is trying to bring him into the fold once Z’s contract expires. Jay-Z has publicly denied the rumors, but you know how that...
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