Editing Warner Music Group (section)

==History==

===Warner Bros. Records and Early Acquisitions (1958–1969)===

The company's roots lie in the decision by [[Warner Bros.]] film studio to launch its own record label after one of its contracted actors, Tab Hunter, scored a No. 1 hit in 1957 for a rival studio's label. Warner Bros. Records was founded on March 19, 1958, with offices initially located above the film studio's machine shop in Burbank, California. In 1963, Warner acquired [[Reprise Records]], a boutique label that had been founded by [[Frank Sinatra]] in 1960 to give himself greater creative control over his recordings. With the Reprise acquisition came executive Mo Ostin, who would become the primary architect of Warner Bros. Records' reputation as one of the most artist-friendly labels in the American music industry. In 1966, Warner was sold to Seven Arts Productions, forming Warner Bros.–Seven Arts. The following year, in 1967, the combined entity acquired [[Atlantic Records]] — founded in 1947 by Ahmet Ertegun — bringing in a catalogue that included [[Aretha Franklin]], [[Ray Charles]], [[Otis Redding]], and [[Wilson Pickett]].

===Kinney, WEA, and Warner Communications (1969–1989)===

In 1969, the Kinney National Company purchased Warner Bros.–Seven Arts for $400 million. Kinney's chairman Steve Ross moved aggressively to build a vertically integrated entertainment conglomerate. In 1970, Kinney acquired [[Elektra Records]] and its sister label [[Nonesuch Records]] for $10 million, adding the [[The Doors|Doors]], [[Tim Buckley]], and [[Love (band)|Love]] to its roster along with Nonesuch's acclaimed classical catalogue. Kinney merged its record labels under a new parent umbrella known as WEA (Warner-Elektra-Atlantic) in the early 1970s and in 1972 shed its non-entertainment assets, renaming itself Warner Communications Inc. That same year, Warner acquired [[David Geffen]]'s [[Asylum Records]] for $7 million, gaining the [[Eagles]], [[Jackson Browne]], and [[Joni Mitchell]]. In 1977–1978, Warner Bros. took over distribution of [[Sire Records]] and then purchased the label outright; Sire's president Seymour Stein had signed the [[Ramones]], [[Talking Heads]], and later [[Madonna]], whose recordings would prove among the most lucrative in the company's history. By the mid-1980s Warner Bros. Records was the largest label in the United States, driven by [[Prince (musician)|Prince]], Madonna, [[Genesis (band)|Genesis]], and [[Van Halen]].

===Time Warner Era (1990–2003)===

In January 1990, Warner Communications merged with Time Inc. to form Time Warner in a deal valued at approximately $14.9 billion. The music division continued to operate largely independently. In 1991, the WEA entity was renamed Warner Music. Following the formation of AOL Time Warner in 2001, the word "Group" was formally appended to create the Warner Music Group name. During this period WMG expanded into new genres through acquisitions and signings, and the label group's dance and electronic output was channeled in part through [[London Records]] and its FFRR sublabel, overseen by DJ and broadcaster [[Pete Tong]].

===Private Equity Ownership and Spin-off (2004–2010)===

In 2003, AOL Time Warner (renamed Time Warner) announced it would sell the music division. In 2004, a private equity consortium led by [[Edgar Bronfman Jr.]] — previously head of [[Seagram]] and [[Universal Music Group]] — purchased WMG from Time Warner for approximately $2.6 billion. The newly independent company went public on the New York Stock Exchange in 2005. Bronfman served as CEO and undertook a restructuring of the label group, acquiring [[Parlophone]]'s parent [[EMI]] assets in the following decade, though the bulk of that process unfolded under subsequent ownership. Roger Ames, who had run London Records and moved with it to Warner, played a significant role in the transition.

===Access Industries and the Blavatnik Era (2011–Present)===

In 2011, [[Access Industries]] — the conglomerate controlled by Ukrainian-American billionaire Len Blavatnik — acquired WMG for approximately $3.3 billion, taking the company private again. Stephen Cooper was appointed CEO and remained the longest-serving CEO in WMG's history, overseeing a decade of digital transition and the company's re-listing on the Nasdaq in June 2020, when WMG raised nearly $2 billion in its IPO at a valuation of $12.75 billion. Under Cooper, WMG became the first major music entertainment company to report streaming as its largest source of recorded music revenue. In 2013, WMG completed its acquisition of [[Parlophone Label Group]] from [[Universal Music Group]], which had been required to divest it following UMG's purchase of [[EMI]]. This brought [[Parlophone]], [[FFRR Records|FFRR]], and associated catalogues including the [[Beatles]]' UK master recordings into the WMG family. In September 2022, Robert Kyncl — formerly Chief Business Officer of [[YouTube]] and before that a senior executive at [[Netflix]] — was named CEO, effective January 1, 2023.