Feb 6, 2020 - Economy & Business

Warner Music Group files for IPO, again

The Warner Music Group logo. Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Warner Music Group, one of the largest companies in the global music industry, filed for an initial public offering on Thursday.

Details: The company's filings show it held $258 million in net income at the end of fiscal year 2019, and had $2.974 billion in total and long-term debt at that time.

Flashback: Warner Music Group went private in 2011 after billionaire Leonard Blavatnik purchased it for $3.3 billion.

Go deeper: Cox Communications ordered to pay $1 billion to music labels, publishers

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Record labels rush to IPO amid music streaming boom

Illustration: Caresse Haaser, Rebecca Zisser / Axios

An explosion in people paying for music via streaming services is helping to revive the decades-old record label business, which is now preparing for a slew of public offerings.

Why it matters: "There hasn't been this much optimism in the music business since the invention of the CD," says Ross Gerber, co-founder, president and CEO of Gerber Kawasaki Wealth and Investment Management.

Cole Haan and Warner Music Group postpone IPOs amid coronavirus uncertainty

Illustration: Aïda Amer/Axios

Cole Haan and Warner Music Group are postponing their initial public offerings, which had been scheduled to launch this week, per Reuters.

Why it matters: This reflects how coronavirus is causing deal market chaos, because of both pricing volatility and a growing aversion to in-person meetings. It also should serve as a reminder to companies like Airbnb that "open windows" aren't eternal.

The average NBA team is now worth $2.1 billion

Reproduced from Forbes; Chart: Axios Visuals

The average NBA franchise is now valued at $2.12 billion, per Forbes — a figure that has grown 476% in the past decade.

Why it matters: Thanks to the NBA's international growth and the $24 billion TV deal it signed with ESPN and Turner in 2014, team values have grown at a much faster rate than the other three major U.S. sports leagues.

Go deeperArrowFeb 12, 2020 - Sports