Features
Bronfman Out, Revenue Up At WMG
Edgar Bronfman Jr., former chairman and CEO of Warner Music Group, has left the company’s board of directors, WMG announced during a May 14 earnings call.
His departure comes as WMG’s acquistion of Parlophone, of which Bronfman played a lead role, nears the end of its approval phase.
In the earnings call, Warner revealed it has posted significant gains in revenue and income. Revenue was up 8 percent to $675 million, up from $623 million for the same period in 2012. Net income was $2 million, compared with a net loss of $36 million in Q1 last year.