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Warner Music sells stake in Spotify

Wednesday 8 August 2018 | 10:29 CET | News
Warner Music Group announced that it has sold its entire stake in Spotify, following the streaming company's IPO. Warner's proceeds from the sale totaled USD 504 million, CEO Steve Cooper said on a conference call over quarterly results. The company will give USD 126 million of that to artists as royalties, Variety reports. 

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Categories: Internet
Companies: Sony / Spotify / Universal Music / Vivendi / Warner Music
Countries: World
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