Warner Brothers Loses $18 Million In Three Months
Another day, another story of a record label bleeding money: According to its quarterly report, Warner Brothers lost a whopping $18 million dollars in the last three months of 2010, even as they had blockbuster albums from Josh Groban and Kid Rock. Warner’s hit was partially do to people selling off stocks: It’s the one major label that is still a public company. That’s probably why the label is trying to find a buyer, so that the stocks don’t continue to tumble.
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