SCHEDULE: Darsana Capital Discloses 4.3% Stake in Warner Music Group

Darsana Capital Partners and its affiliates reported a 4.3% beneficial ownership stake in Warner Music Group Corp. Class A Common Stock as of September 30, 2025.

Summary

• Darsana Capital Partners LP, along with its affiliated entities Darsana Capital Partners GP LLC, Darsana Master Fund LP, Darsana Capital GP LLC, and Anand Desai, collectively reported beneficial ownership of 6,250,000 shares of Warner Music Group Corp. Class A Common Stock.
• This ownership represents 4.3% of the Class A Common Stock outstanding.
• The reporting persons hold shared voting power and shared dispositive power over all 6,250,000 shares.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously filed statement.
• The securities were not acquired for the purpose of changing or influencing the control of Warner Music Group Corp.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership, inherently neutral in sentiment regarding the issuer's performance or prospects.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of an institutional investor's passive stake and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and trading activity.

Key Dates

Keywords

Warner Music Group, WMG, Darsana Capital Partners, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investor, Passive Investment