This, the first of our regional blogs, is authored by the technology and financial journalist Dominic Basulto. Dominic is a New York native, has been a senior editor at Corante since day one and has written for a number of online and offline media companies. Send tips or story ideas to: basulto@gmail.com.
About this weblog
Here we'll report daily on the latest tech and business developments in New York City. Impossible we concede: comprehensive coverage of the city's every story. What we hope you'll find: tips, tidbits and perspectives you won't find elsewhere. As well as unique insights, original interviews and more that should be of interest to New York's vibrant community of technologists and those who track, invest in and report on them.
Letting the air out of the Warner Music IPO balloon
Posted by Dominic Basulto
According to Dow Jones Newswires, Warner Music is cutting the size of its upcoming IPO, from approximately $750 million to less than $550 million. Insiders speculate that the company will reduce the number of shares it will sell to the public to about 27.2 million from 32.6 million; in addition, Warner Music is cutting the price range for the deal to $19 to $20 a share from $22 to $24 a share.
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