Warner Music has debt of $2.21 billion, 'pleased' with cash balance

By Aleesia Forni

Columbus, Ohio, Feb. 9 - Warner Music Group Corp. saw total long-term debt of $2.21 billion at the end of the quarter and reported a cash balance of $168 million as of Dec. 31.

"We are pleased that even with a $79 million cash interest payment in the quarter, we were able to grow our cash balance," chief financial officer Brian Roberts said during the company's conference call to announce its first-quarter earnings on Thursday.

"We remain confident in our ability to generate meaningful free cash flow over the course of the fiscal year."

Cash provided by operating activities was $25 million and free cash flow was $14 million.

"Our cash balance and free cash flow were both up, reflecting our continued focus on cash generation," chief executive officer Stephen F. Cooper said during the call.

Warner Music is a New York-based recorded music and music publishing company.

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