Middlebronfman’s Warner Music’s stock collapses; hits new 52-week low
Friday, November 09, 2007 - 03:46 PM EST
"As of 10:30 Friday morning, Edgar Bronfman Jr's. Warner Music Group stock has collapsed. It's currently selling at around $7.50. The stock reached its 52 week low earlier Friday morning at $7.26. A year ago, WMG was at $27," Roger Friedman reports for Fox News.
"Even if WMG manages to finish a little higher by the end of Friday, the fact remains that nearly every day of this bear market notches them a little lower. If and when the stock price drops below $7, one wonders how much more primary financiers Thomas Lee and company can take it," Friedman reports.
"What's wrong with Warner Music Group? It's not downloading. It's lack of music, no artists, no signings, no development of new artists, as well as wildly overpaid executives and bad business deals," Friedman reports.
Full article here.
[Thanks to MacDailyNews Reader "Tom" for the heads up.]
MacDailyNews Take: Eliminate the Middelbronfman.


AAPL is not doing so great in the recent market sell off either.. We're down $17 in the past 3 days...