Warner Music Loss Narrows
From Bloomberg News
Warner Music Group said its net loss narrowed in the 10 months ended Sept. 30 after the record company reduced jobs and expenses.
The loss was $136 million compared with a net loss of $239 million in the year-earlier period, New York-based Warner Music said. Revenue gained 2% to $2.5 billion.
Time Warner Inc. sold Warner Music this year to a group of investors including Thomas H. Lee Partners, Bain Capital and Edgar Bronfman Jr. for $2.6 billion.
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