Editing Warner Music Group (section)

===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.