Sanctuary issues another profits warning
posted by davidt on Friday June 23 2006, @12:00PM

Sanctuary Sounds An Off-Key Note - Ananova

Excerpt:

Shares in Sanctuary, the world's biggest music company, dived after it issued another profits warning.

Sanctuary, whose artists include Morrissey and recent Eurovision Song Contest winner Lordi, nearly collapsed earlier this year, with its shares once tumbling to below a penny.

It has said that trade at its recorded music division will be below previous forecasts and it could make an annual loss of up to £22m.
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Update: 06/24 00:00 GMT: other links:

Sanctuary music business still struggling - The Guardian
Sanctuary warns of looming losses - BBC News

 
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Sanctuary issues another profits warning | Log in/Create an Account | Top | 9 comments | Search Discussion
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whatever!!! (Score:0)
who cares?
Anonymous -- Friday June 23 2006, @01:01PM (#226082)
[ Reply to this comment ]
    world's biggest music company??? (Score:0)
    I think you mean "world's biggest INDEPENDANT music company"
    Sir Steve -- Friday June 23 2006, @01:32PM (#226087)
    (User #15068 Info)
    [ Reply to this comment ]
    MOZ should start his own label! (Score:1)
    Although Sanctuary may have been the largest indie label worldwide, they made some stupid decisions in recent years. Just because his sperm helped create Beyonce Knowles and the Destiny's Child cash cow/phenomenon, does not mean a company of indie footing should've dumped so much money into the guy...he had no track record and it was the beginning of the end. ROTT wasn't even promoted in the US, thus no casual fans even knew it was released. Do I feel sorry for Sanctuary, well in the sense they started with good intentions and have done some better for the music industry than the vile majors, blowing all their money on oblivious duds, thus not having any cash to promote and profit on actual potential like ROTT!
    defari -- Saturday June 24 2006, @03:44PM (#226199)
    (User #10050 Info)
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