Warner Music Group’s WMG Acquisition Corp. has officially launched a $535 million senior secured note offering. They are doing this with the intention of using the capital to purchase “certain music and music-related assets.”
The record label has recently, quietly acquired Moscow’s Zhara Music, the assets of 12Tone Music, and a reported $200 million stake in Rotana Music in 2021 – unveiled the more than half-billion-dollar note offering this morning.
Separately, Warner Music today also announced the launch of WMX, “a next generation services division that will connect artists with fans and amplify brands in creative, immersive, and engaging ways,” per execs.
The new business unit is comprised of “a rebranded WEA commercial services & marketing network” as well as the company’s “media & creative content arm,” arriving one day after Universal Music publicly admitted plans to buy and develop artist brands.