Warner Music Group announce $100m “social justice” fund to combat music industry racism

LABELS & PUBLISHERSWarner Music is co-producing a film about… of course… you guessed it… tennis. Specifically the story of tennis champion Arthur Ashe – the only black man to ever win the singles title at Wimbledon, the US Open and the Australian Open.

Warner Music Group is trading old debt for new debt with a better interest rate and later due date. The music company is conducting a private offering for $535 million of senior secured notes due in 2030 that it expects to close June 29, it was announced Tuesday (June 16).

Anthony D'Alessandro Editorial Director/Box Office EditorBlacKkKlansman Oscar winner Kevin Willmott is set to write the feature story of Wimbledon tennis champion and African American civil rights activist Arthur Ashe, a project which Ashok Amritraj’s Hyde Park Entertainment Group and Warner Music Group (WMG) are teaming on.It’s a project that’s close to Amritraj’s heart, the Hyde Park producer being a former Wimbledon pro himself.

On June 3, Warner Music Group went public in the year's biggest stock offering, and its share price rose 39% over the next two days. The company itself didn't raise any money — the shares were sold by Len Blavatnik's conglomerate, Access Industries — but it's now worth $18.3 billion based on its $31.05 per share closing price on June 10. After selling $1.86 billion in stock and adding

The Recording Academy has announced new changes that will impact the 2021 Grammy Awards. In a press released obtained by E! News, The Academy announced updates to the Best New Artist category, Latin, R&B and Rap Fields, Nominations Review Committees and more.

press release from Sony Music Group, the company, “will immediately begin to donate to organisations that foster equal rights”.

on Friday it was looking to make dozens of staff redundant. Earthquake measuring 2.2 on Richter scale measured in PerthshireCrieff Hydro proprietor Stephen Leckie put the decision down to the coronavirus pandemic, saying he expected bookings to be down 30-50 per cent this year.The group has entered into a consultation period with staff.

Warner Music Group (WMG) bosses have set aside $100 million (£79 million) to help combat racism in the music industry.Company officials launched the fund for charitable causes “related to the music industry, social justice and campaigns against violence and racism,” following calls from stars including The Weeknd to take action amid ongoing protests against racial injustice across the U.S.The fund, which has been established in collaboration with the Blavatnik Family Foundation – the charitable

Rob Stringer in a statement. “We stand against discrimination everywhere and we will take action accordingly with our community fully involved in effectively using these funds.”Sony Music earlier revealed it would be matching employee donations to several social justice charities worldwide during the month of June, including the ACLU, Black Lives Matter, the NAACP, the Minnesota Freedom Fund, The Innocence Project and Unicorn Riot.

Over the weekend, Universal Music Group chairman and CEO Lucian Grainge announced the company would convene a social justice task force in the wake of nationwide protests prompted by the May 25 killing of George Floyd.

Shares in the Warner Music Group were up 20.5% on the NASDAQ stock exchange at the close of trading Wednesday (June 3), its first day on the market as a public company under Len Blavatnik’s Access Industries. After being priced at $25 this morning, in line with its projected $23-$26 IPO price, and opening at $27, it finished the day at $30.12, according to MarketWatch, for a market capitalization of $15.36 billion and an enterprise valuation of $17.85 billion, when debt is included.

Warner Music Group on Wednesday priced its much-anticipated initial public offering at $25 per share, at the higher end of the $23-$26 range and valuing the company at $12.75 billion. Its stock in early trading went as high as $28.97 after opening up 8 percent at $27.

Lily Allen has accused Warner Music Group (WMG) executives of double standards due to their support of the Blackout Tuesday campaign.

By Geoff Mayfield

Warner Music Group has set its initial public offering (IPO) price at $25 per share. The size of the IPO has been increased from 70 million shares to 77 million shares.

By Jem Aswad

Warner Music Group is expected to officially begin trading later this morning on the Nasdaq exchange with its initial public offering carrying a $25 per-share price, which means that the company is realizing an equation valuation of $12.75 billion.That will make it the largest stock offering so far this year, and according to press reports in financial and business news publications, it instills hope among Wall Street traders that the WMG offering will help break the dam and bring forth more

By Jem Aswad

By Denise Petski

As protests over the death of George Floyd at the hands of Minnesota police continue across the country, Universal Music Group (UMG) plans to launch a company task force for inclusion and social justice initiatives.Chairman/CEO Lucian Grainge included the task force news in a recent memo to staff, which was first reported by Variety and has been obtained by Billboard. The task force will be led by chief counsel Jeff Harleston.