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Warner Music may look to go private

Warner Music, bruised by the steady decline in CD sales, is mulling the possibility of going private, the New York Post said on Wednesday.
/ Source: Reuters

Warner Music, bruised by the steady decline in CD sales, is mulling the possibility of going private, the New York Post said on Wednesday.

Citing company sources, the paper said Warner Music's falling stock price and negative sentiment for the music industry in general, is frustrating Warner's financial backers.

The going-private discussion at the company, home to artists such as the Flaming Lips and Kid Rock, "is understood to be in its infancy," the paper said.

Warner Music on Tuesday posted a wider-than-expected quarterly loss as growth in digital revenue failed to make up for declining CD sales, sending shares down as much as 10 percent.