Warner Music CEO Under Investigation In France

February 8, 2008
Warner Music Group Profits Drop Like Granny’s Butt

February 7. 2008

I can’t stop giggling…but I must in order to type. Warner Music CEO and resident thief Edgar Bronfman Jr. has been placed under “formal investigation” in France for “insider trading” at Vivendi.

According to Reuters, “Being placed under formal investigation in France is one step shy of formal charges.” Yes, you guys should charge him like a bull, pardon the pun.

Warner Music thief artist Madonna – so much surgery her face twisted

Wonder what kind of poncho he’d wear upon release. Red is a good color for you, Edgar, it brings out your eyes.

But just know, if the French government doesn’t get you, another one will. You’re an arrogant, reckless, law breaking man that left an incriminating trail so distinct, even Hansel and Gretel could follow it.

Bronfman is being formally accused of “a massive share buyback.” It’s amazing, just two days ago in my February 5, 2008 article Live Nation Stock Down 45% Since Madonna I wrote about a deceitful entertainment industry company engaging in a discrete share buyback, among other things, to prop up its stock. Who oh who could I have been talking about (Aisha whistling):

“Maybe Live Nation should try what another deceitful entertainment industry company has been doing to prop up its stock in the face of a terrible decline – discretely buy your own stock, fire countless people to make it look like a profit and float false reports of the so-called new ideas you have for the company, that in actuality won’t pan out (yes, sarcasm, but with truth).” February 5, 2008

Here’s the article about the proceedings in France:

France investigates Warner Music CEO Bronfman
Thu Feb 7, 2008 4:10pm EST

LOS ANGELES, Feb 7 (Reuters) – Warner Music Group Corp (WMG.N: Quote, Profile, Research) Chief Executive Edgar Bronfman Jr. has been placed under formal investigation by French authorities as part of a probe into insider trading at Vivendi (VIV.PA: Quote, Profile, Research), Warner said on Thursday. Bronfman was formerly a director of Vivendi… http://www.reuters.com

French judges put Warner Music CEO under formal investigation

5 hours ago – PARIS (AFP) — French judges have placed the head of Warner Music, Edgar Bronfman Jr, under formal investigation as part of a probe into French media giant Vivendi Universal, legal sources told AFP on Thursday.


In other news, Warner Music lost $18 million:

Warner Music Group downgraded to neutral at Merrill Lynch
February 07, 2008: 10:31 AM EST

NEW YORK, Feb. 7, 2008 (Thomson Financial delivered by Newstex) — Warner Music Group (NYSE:WMG) Corp. Thursday was downgraded to neutral from buy at Merrill Lynch (NYSE:MER) (OOTC:MERIZ) , which noted that the company was trading about 7% above its former price target of $6.50, with upside more limited…

Pali Research said growth reported in Warner Music’ first quarter ‘cannot hide underlying problems.’…Pali said, reiterating its sell rating and $5 price target. http://money.cnn.com

Warner Music Group Falls to 1Q Loss

NEW YORK (AP) — Warner Music Group Corp., whose artists include Led Zeppelin and Josh Groban, posted a first-quarter loss Wednesday, hurt by higher expenses and an impairment charge.

The recording company reported a loss of $16 million, or 11 cents per share, compared with a profit of $18 million, or 12 cents per share, in the previous year. http://ap.google.com

WMG reports $16 million loss

Warner Music Group swung to a $16 million loss last quarter from $18 million in profit the year before on a hefty one-time charge for shuttered subsid Bulldog Music.

The company, run by Edgar Bronfman Jr., said the hit from Bulldog, an entertainment services and high-end concert promotion biz, was about $18 million. Warner acquired Bulldog in May. http://www.variety.com/article

Story found here

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