Warner Music considers share buyback
EmptyNEW YORK -- Warner Music Group is considering strategic options including a share buyback and securitizing its publishing assets to boost its share price, a source familiar with the matter said Wednesday.
Since January, Warner Music's shares have fallen more than 50% as the music industry has been hit by a worse-than-expected downturn in CD sales.
The stock rose 21.3% to $12 on Wednesday after the New York Post said the company was considering taking itself private. That is one of the options under consideration, the source told Reuters.