SOURCE: Warner Music Group

Warner Music Group

October 19, 2012 07:30 ET

Warner Music Group Corp. Announces Launch of Senior Secured Notes Offering

NEW YORK, NY--(Marketwire - Oct 19, 2012) - Warner Music Group Corp. ("Warner Music Group" or "WMG") today announced that through its wholly owned subsidiary WMG Acquisition Corp. (the "Company") it intends to commence a private offering (the "Offering") of senior secured notes, which may be denominated in U.S. dollars, euros or a combination thereof (the "Notes").

The Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the "Securities Act"). The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act.

Concurrently with the Offering, the Company is seeking to enter into new senior secured credit facilities, including a term loan facility and a new revolving credit facility that will replace its existing revolving credit facility (collectively, the "Senior Credit Facilities"), and has commenced tender offers and consent solicitations with respect to its outstanding 9.50% Senior Secured Notes due 2016 (collectively, the "Tender Offer"). The Company intends to use the proceeds of the Offering and/or borrowings under the Senior Credit Facilities, together with other available sources of cash, to repurchase, redeem or discharge all of its currently outstanding 9.50% Senior Secured Notes due 2016.

The Notes have not been registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.

This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.

About Warner Music Group

With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word, as well as Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide. Warner Music Group is an Access Industries company.

This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements regarding expectations as to the completion of the transactions contemplated by the Offering. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from those referred to in the forward-looking statements. More information about Warner Music Group and other risks related to Warner Music Group are detailed in Warner Music Group's most recent annual report on Form 10-K and its quarterly reports on Form 10-Q and current reports on Form 8-K as filed with the Securities and Exchange Commission. Warner Music Group does not undertake an obligation to update forward-looking statements.

Warner Music Group maintains an Internet site at www.wmg.com. Warner Music Group uses its website as a channel of distribution of material information related to Warner Music Group. Financial and other material information regarding Warner Music Group is routinely posted on and accessible at http://investors.wmg.com. In addition, you may automatically receive email alerts and other information about Warner Music Group by enrolling your email by visiting the "email alerts" section at http://investors.wmg.com.

Warner Music Group's website and the information posted on it or connected to it shall not be deemed to be incorporated by reference into this communication.

Additional factors that may affect future results and conditions are described in Warner Music Group's filings with the SEC, which are available at the SEC's web site at www.sec.gov or at Warner Music Group's website at www.wmg.com.

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