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Restructuring / Turnaround Strategies Case Study
Case Title:
Warner Music Group: Edgar Bronfman Jr's Turnaround Strategies
Publication Year : 2005
Authors: Puneet Pathak, Souvik Dhar
Industry: Home Appliances and Personal Care Products
Region:USA
Case Code: RTS0040
Teaching Note: Not Available
Structured Assignment: Not Available
Abstract:
For the year 2003, Warner Music Group (WMG) reported a loss of $239 million, which the management attributed to the changed dynamics of the music industry and the resultant competition and large-scale piracy. In March 2004, Seagram scion Edgar Bronfman Jr. bought WMG from Time Warner for $2.6 billion. After taking over the company, Edgar who was known for his business acumen and strategies, turned around the company in a period of just 10 months and WMG recorded a profit of $36 million for the first quarter of 2005.
Pedagogical Objectives:
- To understand the challenges faced by WMG in the highly competitive music industry
- To discuss the turnaround strategies of Edgar Bronfman Jr. and whether these strategies would enable WMG to show outstanding performances in the future.
Keywords : Warner Music Group (WMG); Restructuring / Turnaround Strategies Case Study; Edgar Bronfman Junior; Music piracy; Music industry; On-line digital music; On-line business model; Turnaround strategies; Restructuring; Competitive strategies; Peer to Peer (P2P)
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