Len Blavatnik, American billionaire, is inspired by his French counterpart Vincent Bolloré. He wants to take advantage of the boom in the music market to cash in a capital gain. Its subsidiary Warner Music, number three worldwide in the sector, has just filed with the stock market authorities a plan for an initial public offering in New York. The share of the capital and the sale price of the shares have not yet been announced. But the value could be very high.
Read also: Universal Music sells the Parlophone label to Warner
At least if we refer to the sale by Vivendi of 10% of the capital of its subsidiary Universal Music to the Chinese Tencent, last August. The transaction valued Universal Music, the world leader in music, at 30 billion euros, thirty times its gross operating surplus. In its IPO document, Warner Music specifies that in fiscal year 2019 its turnover amounted to 4.4 billion dollars and its gross operating surplus (EBITDA), to 737 million dollars . At thirty times this result, Warner Music could
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