Least Shocking News Ever: Outlook For Warner Music Lousy
It’s been a rough week for Edgar Bronfman, Jr. First, his hometown newspaper questioned whether he’s cut out for the business world at all, then Standard & Poor’s announced that the company’s credit rating is about as bad as mine. However, one bit of good news: Forbes had originally reported that S&P had lowered the rating to BB-, when in fact it was “affirming” company’s previous rating at that level. Also, S&P stated that concerns over the viability of Warner’s business model was “somewhat tempered” by “its focus on significantly reducing acquisitions”. If Edgar can just stop purchasing failed Hampton concert promoters and labels with one marketable band who might just jump ship anyway, we may have enough good news to merit another raise! [Forbes]
