Warner Music profit drops, blamed on digital shift |
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Thursday November 29, 2007. 10:45 PM MacNN
Warner Music Group on Thursday reported a major drop in profits for its last financial quarter that it largely attributes to online music. Although the company noted that its purely download-based music income increased by 25 percent to $130 million, the company's overall profit dropped about 58 percent and resulted in just $5 million versus $12 m...
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