Warner Music Group F1Q06 (Qtr Ending Dec 31, 2005) Earnings Conference Call Transcript (WMG)

Warner Music Group (WMG)
Q1 2006 Earnings Conference Call
February 14th 2006, 8:30 AM.

Executives:

Jill Krutick, Senior Vice President, Investor Relations and Corporate Development
Edgar Bronfman, Chairman, Chief Executive Officer
Michael Fleisher, Chief Financial Officer, Principal Accounting Officer and Executive Vice President

Analysts:

Doug Mitchelson, Deutsche Bank
Anthony Noto, Goldman Sachs
Michael Savner, Banc of America
Bishop Cheen, Wachovia Securities
Jason Bazinet, Citigroup
Eric Handler, Lehman Brothers
Richard Greenfield, Pali Research
Mark Harrington, ABN AMRO
Karol Winsted (phonetic), Forest Investments
Tuna Amobi, Standard & Poor’s Equity Group

Presentation

Operator

Welcome to Warner Music Group’s Fiscal First Quarter Earnings Call for the three month period ended December 31, 2005. At the request of Warner Music Group, today’s call is being recorded for replay purposes. And if you object you may disconnect at anytime. As a reminder there will be a question-and-answer session following today’s presentation and at that time you may press “*