Warner Music signs another star

Article Excerpt

WARNER MUSIC GROUP, $37.04, is a buy. The company (Nasdaq symbol WMG; TSINetwork Rating: Average) (www.wmg.com; Shares o/s: 510.0 million; Market cap: $18.9 billion; Dividend yield: 1.3%) is now adding to its music library with the purchase of celebrated French DJ David Guetta’s recorded-music catalogue. It has also signed a new deal with him for future recordings. Guetta won two Grammy Awards and is now the eighth-most listened to artist in the world by monthly listeners on audio streaming platform Spotify. The purchase price has not yet been disclosed. Meantime, Warner Music continues to thrive along with the rise of music-streaming services like Spotify and Apple Music. Warner Music is a buy. buy. …