Warner Music Group sets price range of $22-$24

Warner Music Group, the popular global music company which focuses on recordings and publishing music, announced it will offer 32.6 million shares within a price range of $22 to $24. Taken at the midpoint, this price would give Warner Music a proposed market valuation of $3.4 billion. The joint lead managers on the deal will be Goldman Sachs and Morgan Stanley. Timing has yet to be determined.