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May 08, 2008

WMG suspends dividends...

Silicon Alley Insider | Read Full Story >

Murmurs about Warner Music Group’s (WMG) ability to handle its $2 billion+ debt got louder today, after the company suspended its dividend. But Edgar Bronfman Jr, , asked repeatedly about it during his 2Q earnings call, insisted that everything’s fine, that the company is in no danger of violating its debt covenants. And that they wouldn’t be even if they kept handing out the dividend. Not sure that’s going to quiet the peanut gallery, though.

The rest of the business? More or less the same: Physical sales still falling, digital growing but not enough to compensate.


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1 Comment

#1 sell sell sell says:

run for your lives bitches!


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