22
Jul
AOL Time Warner Inc. announced today a definitive agreement to sell Warner Music Group’s DVD and CD manufacturing, printing, packaging, physical distribution and merchandising businesses to Cinram International Inc. for approximately $1.05 billion in cash.
The agreement includes the sale of the following businesses: WEA Manufacturing Inc., Warner Music Manufacturing Europe GmbH, Ivy Hill Corporation, Giant Merchandising and the physical distribution operations of Warner-Elektra-Atlantic Corporation (WEA Corp.). The sales and marketing operations of WEA Corp. will remain as a part of Warner Music Group. [more @ www.mi2n.com]
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