Warner Music Group Corp. and Access Industries announced the execution of a merger where Access Industries will buy WMG in an all-cash transaction for $3.3 billion! The purchase includes WMG’s entire recorded music and music publishing companies.

The purchase price is said to give stockholders a 34.4% premium over the average share price of $6.14.

Under the terms of the merger WMG’s Board of Directors approved the transaction and recommended that WMG’s stockholders approve the transaction.  In addition to stockholder approval, the transaction is subject to customary closing and regulatory approvals.  It is anticipated that the transaction will be completed in the third calendar quarter of 2011. 

WMG’s Chairman and CEO, Edgar Bronfman, Jr., said, “We believe this transaction is an exceptional value-maximizing opportunity that serves the best interests of stockholders as well as the best interests of music fans, our recording artists and songwriters, and the wonderful people of this company.  We are delighted that Access will be the new steward of this outstanding business.  They are supportive of the company’s vision, growth strategy and artists, while bringing a fresh entrepreneurial perspective and expertise in technology and media.  Most importantly, Access supports Warner Music’s commitment to our recording artists and songwriters who are the foundation of our current and future success.”

Len Blavatnik, Chairman and founder of Access Industries, said, “I am excited to extend my longstanding involvement with Warner Music.  It is a great company with a strong heritage and home to many exceptional artists.  I look forward to working closely with the many talented people within the company.” 

Jorg Mohaupt, Head of Media at Access Industries, added, “The music industry is at an inflection point where digital adoption is rapidly gaining momentum.  Warner Music, as one of the most progressive forces in the music business, is well positioned to capture this opportunity for music creation and distribution.”

Scott Sperling, Presiding Director of WMG, said, “It has been our great pleasure working with the extraordinary team at Warner Music over these past seven years.  The company has managed to significantly increase market share and profitability during our ownership period and consistently outperformed even during a challenging period for the industry. Len Blavatnik and Access are likewise deeply committed to the music business and we know that we will be leaving the company in good hands.”

Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005.  With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Cordless, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word.  Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries.  Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide. 

Following the closing of the transaction, WMG will become a privately held company and its stock will no longer be traded on the New York Stock Exchange.  The company will retain the Warner Music Group name and will continue to operate out of its current facilities.  

Cultural – How do we pass on the cultural genes of our community while understanding globalization?

Next, Robinson speaks of 2 modalities that drive the underlying school paradigm as we know it today.

Old modality: 

We go to school to get a job.

New Modality: 

No guarantees no matter the level of education towards employment.

Afterwards, Sir Robinson mentions our current educational system was conceived during the enlightenment and under the economic time of the industrial revolution.

Historically, this system has held in high regard 

knowledge of classical thought and theory. 

Ex - Aristotle, Plato, etc

The problem as Sir Ken Robinson sees it is that not everyone cares about classical ways of thinking.

New problems!!!

Ex – ADHD – kids are being medicated too routinely

NOW, children are being besieged from more stimuli than ever with "boring" stuff.

Interestingly, ADHD has grown parallel with the growth of end of grade testing. 

ADHD and ADD to Robinson are nothing more than “Fictitious Epidemics”.

The Arts are victims of this mentality.

Subsequently, Robinson discusses the array of separations present in our current school system.

Separations Include:

Subjects, age, gender, tax bracket, proximity location, etc

In the end, Robinson forwards the idea that our current system creates the sort of citizen needed for a bygone era. It creates a production line of children.

End Result: Standardization

NEW IDEA: 

Divergent Thinking – "capacity for creativity

having lots of possible answers to a single question"

Ex – How many uses can you think of using a paper clip?

%-age of children tested at genius level in kindergarten - 

98%

Re-Tested at 9 yrs old – 50%

Same children tested at 15 years of age - 35%

In closing, this sort of degeneration of creative thinking takes place because of how we teach.  Sir Robinson should be heralded and is included on this forum not for his ideas, which have been shared before by others, but for his clarity and innovative creative expression.