Big Music Labels Sell Over 1 Billion In Spotify Shares But Insist Not Concerned About Company S Future
Two big music labels have between them sold more than a billion dollar’s worth of their shares in Spotify, but one of them said that this move doesn’t reflect any concerns about the future of the company … Re/code reports that Sony sold around half its shares in the company for about $750M, while Warner Music Group sold 75% of its own stake for roughly $400M. The site says that Warner made a statement on the sale, though it carries no comment from Sony....