Also, Live Nation shares gained 3.7% and reached an all-time high ahead of next week’s fourth-quarter earnings results.
Other recent music deals: Triller Group announced a $50 million funding round, Musical AI raised an initial $2.1 million investment and more.
Warner had previously acquired a majority stake in the leading African digital music distribution, rights management and label services company in 2022.
The WMG veterans report to Michael Ryan Southern, aka MRS, who calls them both "tenacious and curious leaders."
Total quarterly income, recorded music and streaming income fell, but cost-cuts freed up money to invest in A&R and buy Tempo's music catalog.
"It’s a big step forward in our vision for greater alignment between rights holders and streaming services," says Warner Music chief Robert Kyncl.
"Deals get renegotiated all the time if they’re out of sync," says WMG's longtime general counsel. "We want to maintain the best relationships with artists and songwriters."
WMG's youngest board member talks his relationship with Atlantic's new leader and the changes across the business: "The music business should constantly evolve and innovate."
Also this week: An Oak View Group veteran joins Javitz, an Elektra Music Group mainstay launches his own firm and 19 Entertainment has a new head of music.
"We’ve not just helped our artists and songwriters do new, brave, and disruptive things, we’ve held ourselves to the same standard," Kyncl says in a year-end note to staff.
