“As of 10:30 Friday morning, Edgar Bronfman Jr’s. Warner Music Group stock has collapsed. It’s currently selling at around $7.50. The stock reached its 52 week low earlier Friday morning at $7.26. A year ago, WMG was at $27,” Roger Friedman reports for Fox News.
“Even if WMG manages to finish a little higher by the end of Friday, the fact remains that nearly every day of this bear market notches them a little lower. If and when the stock price drops below $7, one wonders how much more primary financiers Thomas Lee and company can take it,” Friedman reports.
“What’s wrong with Warner Music Group? It’s not downloading. It’s lack of music, no artists, no signings, no development of new artists, as well as wildly overpaid executives and bad business deals,” Friedman reports.
Full article here.
[Thanks to MacDailyNews Reader “Tom” for the heads up.]
Eliminate the Middelbronfman.
AAPL is not doing so great in the recent market sell off either.. We’re down $17 in the past 3 days…
Time to sell a yacht or two, Middlebronfman!
Jimmie,
Look at the total year 2007 or even just the last 4 weeks. You should be looking at this decline as a time to buy more shares if you are in it for the long haul, that is.
Do they have anything Apple might to buy?
@ Jimmie
Spoken like a day trader. In the last 6 months we’re up 60 dollars. A 10% correction is hardly a big deal, and happens fairly regularly.
this whole market BS is about the hedge funds. They’ll be back next week. Where are they going to put their money. This whole thing is a guessing game.
AAPL is solid with huge revenue streams for the next 2-3 years.
Apple is down 9% this week. Tough week for almost everybody.
Middlebronfman Middlebronfman bo-bronfman
banana nana bo-bronfman
fe fi fo-fronfman
Middlebronfman
@ Jimmie
Yeah, but that isn’t from anything Apple has done, it is being pulled down by the broader sector and market forces. That means that the amount that Apple has dropped stock price wise is more than likely to be temporary in nature. This is what is know in the financial world as a “buying opportunity.”
The same can not be realistically said of WMG, they have been trending downward steadily for the past year.
My word: ‘make’ as in, “3 days does not a trend make.”
“AAPL is not doing so great in the recent market sell off either.. We’re down $17 in the past 3 days…”
You can’t compare the reasons though. AAPL is running on all cylinders, great fundamentals, but is turning down because the overall market is turning down after Bernanke’s comments yesterday. If you don’t believe it, look at what Google has lost over the last 2 days, nearly 70$/share.
WMG has been on a long swirling the bowl kind of slide, brought about by a lack of vision, greed and little understanding of how their business is changing in front of them.
Totally different reasons.
The last six months of upside in appl stock is a classic pump-n-dump.
Middlebromfman has ruined every business he has gotten his greedy little hands on.
He can’t have all that much money left to piss away.
Perhaps if their label had good artists on it…….
The crap Warner publishes is………crap.
Mr Bromfman has really ruined the family fortunes
Seagrams was such a strong company run well and turning BORING profits year after year…then Mr. B Jr. wanted to get into the entertainment business…
It’s just a temporary downturn like the rest of the market. Soon it will turn around and I… er… Time-Warner, will RULE THE WORLD!!! WE WILL BUY APPLE AND DESTROY ITUNES. ALL CD’S WILL COST $100 FOR DIGITAL COPIES AND YOU WILL PAY THE MONEY AND THANK US. ALL DOWNLOADABLE TV WILL HAVE 5 MINUTES OF ADS EVERY 10 MINUTES OF SHOW AND WILL COST $50 PER SHOW TO DOWNLOAD, EXCEPT OLD SHOWS WHICH NO ONE WANTS WHICH WILL COST $25.
MDN MW: “Finally”, as in “Perhaps finally, Time-Warner will get the message, fire that schmuk, and embrace the digital revolution… yeah, right!”
Ah ha ha ha!
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Does this make them beleaguered or blood on the iPod wheel? Is there a Zune in the house?
Apple should buy Warner Music and immediately begin massive executive and middle management layoffs.
Then Apple should upgrade studio facilities (with Apple hardware, natch), tear up existing artists’ contracts and re-sign them (if artists are so inclined) to contracts with exceptionally better terms such as 50/50 deals and ownership of their music.
The possibilities are staggering.
Talk about a music revolution.
YES AAPL is DOWN
Soybeans are UP
what does that tell you?
WMG’s market cap is only $1.2B. Apple could buy Warner Music and still end the quarter with more cash than it started with.
@nobodi
Apple can not become or act as a record label or sign artists of any sort due to their agreement with the Beatles Apple corps.
AAPL is DOWN
Soybeans are UP
what does that tell you?
Well, we are told that a person shouldn’t eat Apple iPods, so people are going to spend their money on tofu..??
unless they buy out Apple corps??
Yep, Apple is down about 27 points from its high just a few days ago, so it’s not as if Warner Music Group is the only stock crashing.
“Yep, Apple is down about 27 points from its high just a few days ago, so it’s not as if Warner Music Group is the only stock crashing.”
Apple’s decline is much greater than the overall Nasdaq’s decline. Because AAPL’s market cap is so bloated, it’s drop also has a greater effect on the index as a whole.
Tre: “Apple can not become or act as a record label or sign artists of any sort due to their agreement with the Beatles Apple corps.”
Apparently you slept through the first part of this year? The part where Apple gained all worldwide rights to the “Apple” term and licences it back to Apple corps. for specific use?
Welcome to 2007, buddy!
So yeah, this is *totally* no longer an issue. Apple owns that term and no longer has to answer to Apple corpse Beatles label in any fashion whatsoever.