NEW YORK — International music-education company Alfred Publishing has reached an agreement to acquire Warner Bros. Publications, the print-music division of Warner Music Group. The purchase price was not disclosed.
Warner Bros. Publications, based in Miami and the United Kingdom, prints and distributes sheet music, orchestrations, books and educational materials. Word Music, the print-music unit of WMG’s Word Entertainment, is not part of the transaction.
Additionally, WMG’s Warner/Chappell publishing division is entering into a long-term exclusive licensing pact that grants Alfred the right to print and distribute versions of W/C-administered compositions.
WMG chairman/CEO Edgar Bronfman Jr. says, “The sale of Warner Bros. Publications enables Warner Music Group to focus its resources on its core mission of signing and developing the world’s best recording artists and songwriters.”
WMG recently reported net loss of $136 million for the 10 months ended Sept. 30, vs. net loss of $239 million in the corresponding 10 months of 2003.