Warner Bros. Discovery plans to promote its music library

© Reuters. The Warner Bros brand is seen throughout the Cannes Lions Worldwide Competition of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard/File Picture

(Reuters) – Warner Bros Discovery (NASDAQ:) Inc is contemplating promoting its music library which could possibly be valued at greater than $1 billion, the Monetary Occasions reported on Thursday, citing folks accustomed to the matter.

The corporate is looking for consumers for copyrights to music it owns, in response to the report, which provides that the method continues to be in its early phases.

Warner Bros. Discovery, which was fashioned final 12 months by the merger of the WarnerMedia unit of AT&T Inc (NYSE:) and Discovery Inc, didn’t instantly reply to a Reuters request for remark.

Within the early 2000s, WarnerMedia offered its music division to a gaggle of buyers, however retained the copyrights to some soundtracks from movies corresponding to Judy Garland-starring “The Wizard of Oz” and “Westworld.” from 1973.

Warner Bros. Discovery’s introduced plan could be the most recent below boss David Zaslav, who lately shut down the CNN+ streaming service and canceled the “Batgirl” film.