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Warner Music Group


Company name	Warner Music Group
Company type	Private
Industry	Music & Entertainment
Founded	1958 (as Warner Bros. Records) 1971 (as WEA) 2004 (as WMG)
Headquarters	New York, United States
Key people	Edgar Bronfman, Jr.: Chairman Stephen Cooper: CEO Lyor Cohen: North American Chairman & CEO Michael Fleisher (Michael D. Fleisher): Vice Chairman
Revenue	(-) $3.491 Billion (USD; 2008)
Net income	(-) $56.0 Million (USD; 2009)
Owner(s)	Warner Bros. (1958-1967) Warner Bros.-Seven Arts (1967-1969) Kinney National Company (1969-1971) Warner Communications (1971-1990) Time Warner (1990-2004) Independent (2004-2011) Access Industries (2011-present)
Employees	4,000 (as of 2008)

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Warner Music Group (WMG) is the third largest business group and family of record labels in the recording industry, making it one of the big four record companies. For three decades the conglomerate was known as WEA, which stood for Warner Bros.-Elektra-Atlantic Records; three major record companies that signed and developed musical acts and, in turn, distributed product for subsidiaries and other record labels.

The current incarnation of the company as Warner Music Group was formed in 2004 when it was spun off and made completely separate from Time Warner; as a result Time Warner no longer retains any ownership whatsoever in the Warner Music Group, despite its name. WMG also has a music publishing arm called Warner/Chappell Music which is one of the world's largest music-publishing companies.

In May 2011, the company announced its sale to Access Industries, Inc. The purchase of the company was completed on July 20, 2011.

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