e-Commerce - Digital Shift Upends Warner Music in Q2
5/8/2008 12:37:27 PM
Warner Music Group, whose artists include R.E.M., Madonna and Green Day, said Thursday that higher costs and a shift to digital music resulted in a wider second-quarter loss, and it suspended dividends. Shares tumbled more than 20 percent, or $1.87, to $7.18 in morning trading. For the period ended March 31, the New York-based recording company reported a loss of $37 million, or 25 cents per share....full article