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Tuesday, February 8, 2011

Warner Music loss widens as sales plunge, (NYSE: WMG)

Warner Music Group (WMG.N) posted a deeper loss on Tuesday as its sales declined more than expected, prompting the company's shares to fall more than 8 percent. The world's third-largest company said it also lost market share even as it battles with a difficult industry transition from CDs to digital music. For the fiscal first quarter, the company posted a loss of 12 cents a share, compared with a loss of 11 cents a share in the year-ago period.

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