Ed Sheeran’s label boss set for stock market windfall
Warner Music Group, home to a host of stars including Ed Sheeran and Bruno Mars, plans to sell shares in the US.
Billionaire Len Blavatnik bought the company for $1.3bn in 2011, when the industry was in the depths of a multi-year slump.
He looks set for a major windfall as music sales have jumped in recent years.
This has been helped by the rapid growth of paid streaming services such as Spotify and Apple.
Last year Vivendi agreed to sell a minority stake in Universal Music Group, the world’s largest music company, to a group led by China’s Tencent.