Warner Music Group Completes Sale of Warner Bros. Publications Unit to Alfred Publishing Co., Inc.

NEW YORK (WMG) - Warner Music Group Corp. announced today it has completed the sale of Warner Bros. Publications to Alfred Publishing Co., Inc. The sale was announced on December 16, 2004.

Warner/Chappell Music, a global music publisher, remains a division of WMG. The print music business of WMG's Word Music, the industry's premier source for church hymnals, choral music and associated instrumental music, is not included in this sale.

Warner Bros. Publications, based in Miami and the U.K., prints and distributes a broad selection of sheet music, books and educational materials, folios, orchestrations and arrangements, and tutorials and methods. In addition, Warner Bros. Publications markets printed versions of Warner/Chappell musical compositions and other popular songs throughout the world.

With offices in the U.S., the U.K., Germany, Singapore and Australia, and a roster of renowned authors and composers, Alfred Publishing is a global operation with more than 80 years of uninterrupted growth.

Under the completed agreement, Alfred Publishing has now acquired the entire Warner Bros. Publications business and commenced a long-term exclusive print license agreement with Warner/Chappell. Under the license agreement, Alfred has the right to continue to print and distribute editions of musical compositions administered by Warner/Chappell.
The transaction had already been cleared under the Hart-Scott-Rodino Act.