Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Warner Music Group Corp. announced a restructuring with charges of approximately $210 million or approximately $135 million of total non-recurring after-tax charges affecting O&O Media Properties, Corporate and various support functions (approximately 750 or 13%).
- Type
- restructuring
- Charge
- approximately $210 million or approximately $135 million of total non-recurring after-tax charges
- Affected area
- O&O Media Properties, Corporate and various support functions
- Headcount
- approximately 750 or 13%
Exact text from the filing
The Company now expects the Plan to generate pre-tax cost savings of approximately $260 million, a significant majority of which will be achieved by the end of fiscal year 2025, and for the Company to incur total non-recurring pre-tax charges of approximately $210 million or approximately $135 million of total non-recurring after-tax charges.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Warner Music Group Corp. announced a impairment with charges of approximately $55 million of non-cash impairment charges affecting disposal or winding down of the O&O Media Properties.
- Type
- impairment
- Charge
- approximately $55 million of non-cash impairment charges
- Affected area
- disposal or winding down of the O&O Media Properties
Exact text from the filing
The now expected pre-tax charges include approximately $150 million of severance payments and other termination costs and $5 million of other non-cash charges, along with the unchanged amount of approximately $55 million of non-cash impairment charges primarily in connection with the disposal or winding down of the O&O Media Properties.
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