Blavatnik trust shifts 280,000 Warner Music (WMG) Class B shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Warner Music Group Corp. reported updated holdings for entities affiliated with Len Blavatnik, showing very large positions in Class B Common Stock, which is convertible into Class A Common Stock on a one‑for‑one basis with no expiration date.
On April 16, 2026, LB 2020 Family Trust made a distribution for no consideration of 280,000 shares of Class B Common Stock to VLB Holdings LLC. This is classified as an “other” transaction and reflects an internal transfer rather than an open‑market purchase or sale. Following these updates, reporting entities continue to hold substantial Class B stakes both directly and through corporate and trust structures, with various parties disclaiming beneficial ownership except to the extent of their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
AI Entertainment Holdings LLC, AIBFF, Inc., ACCESS INDUSTRIES, LLC, Access Industries Core Holdings LLC, Access Industries Holdings LLC, ACCESS INDUSTRIES MANAGEMENT, LLC, Entertainment Holdings II LLC, Blavatnik Len
Role
null | null | null | null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Common Stock | 280,000 | $0.00 | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 1,120,000 shares (Indirect, By trust);
Class B Common Stock — 247,600,227 shares (Direct, null)
Footnotes (1)
- Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date. The securities reported are held directly by AI Entertainment Holdings LLC ("AIEH") and may be deemed to be beneficially owned by Access Industries Core Holdings LLC (formerly known as AIPH Holdings, LLC) ("AICH"), Access Industries Holdings LLC ("AIH"), Access Industries, LLC ("AI"), Access Industries Management, LLC ("AIM") and Mr. Blavatnik because AIPH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AIPH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the reporting persons (other than AIEH) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities. The securities reported are held directly by AIBFF, Inc. (formerly known as AI Altep Holdings, Inc.) ("AIBFF") and may be deemed to be beneficially owned by Mr. Blavatnik because Mr. Blavatnik controls AIBFF. Each of the reporting persons (other than AIBFF) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities. The securities reported are held directly by Entertainment Holdings II LLC ("EH") and may be deemed to be beneficially owned by AIEH, AICH, AIH, AI, AIM and Mr. Blavatnik because AIEH is the parent of EH, AICH is the parent of AIEH, AIH controls a majority of the outstanding voting interests in AICH, AI controls a majority of the outstanding voting interests in AIH, AIM controls AI and AIH and Mr. Blavatnik is the controlling person of AIM and controls a majority of the outstanding voting interests in AI. Each of the reporting persons (other than EH), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities. On April 16, 2026, LB 2020 Family Trust (the "Trust") made a distribution for no consideration of an aggregate of 280,000 shares of Class B Common Stock to VLB Holdings LLC. The securities reported are held directly by the Trust and may be deemed to be beneficially owned by Mr. Blavatnik because Mr. Blavatnik is a co-trustee of the Trustee. Each of the reporting persons (other than the Trust) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities.
Key Figures
Trust distribution: 280,000 shares
Direct Class B holding: 247,600,227 shares
Indirect Class B holding (AIEH): 125,000,000 shares
+2 more
5 metrics
Trust distribution
280,000 shares
Class B Common Stock distributed for no consideration on April 16, 2026
Direct Class B holding
247,600,227 shares
Class B Common Stock held directly and convertible into Class A
Indirect Class B holding (AIEH)
125,000,000 shares
Class B Common Stock held indirectly by a corporation
Indirect Class B holding (AIBFF)
517,025 shares
Class B Common Stock held indirectly by another corporation
Trust Class B holding after transaction
1,120,000 shares
Total Class B Common Stock held indirectly by trust following distribution
Key Terms
Class B Common Stock, Class A Common Stock, beneficial ownership, pecuniary interest, +2 more
6 terms
Class B Common Stock financial
"Each share of Class B Common Stock is convertible at any time at the option of the holder"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"convertible at any time at the option of the holder into one share of Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
beneficial ownership financial
"may be deemed to be beneficially owned by Access Industries Core Holdings LLC"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein"
distribution for no consideration financial
"made a distribution for no consideration of an aggregate of 280,000 shares of Class B Common Stock"
co-trustee financial
"may be deemed to be beneficially owned by Mr. Blavatnik because Mr. Blavatnik is a co-trustee of the Trustee"
FAQ
What insider activity did Warner Music Group (WMG) report in this Form 4?
Warner Music Group reported an internal restructuring transaction involving a distribution of 280,000 Class B Common shares by LB 2020 Family Trust to VLB Holdings LLC, plus updated large Class B holdings across Blavatnik‑affiliated entities, without any reported open‑market purchases or sales.
What are the major Class B Common Stock holdings reported for WMG insiders?
Reported holdings include 247,600,227 Class B shares held directly, 125,000,000 Class B shares held indirectly by a corporation, and 517,025 Class B shares held indirectly by another corporation. These positions represent substantial controlling stakes tied to entities associated with Len Blavatnik.