# EDGAR Filing Document

**Accession Number:** 0001319161
**File Stem:** 0000919574-25-006416
**Filing Date:** 2025-11
**Character Count:** 17839
**Document Hash:** 6ad1a9f0f58b9683663739e7c56980dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-006416.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0000919574-25-006416

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Warner Music Group Corp.
- **CENTRAL INDEX KEY:** 0001319161
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 134271875
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-81307
- **FILM NUMBER:** 251450612

**BUSINESS ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-275-2000

**MAIL ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WMG Parent Corp.
- **DATE OF NAME CHANGE:** 20050228
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Darsana Capital Partners LP
- **CENTRAL INDEX KEY:** 0001609098

**ORGANIZATION NAME:**
- **EIN:** 320432384
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 40 WEST 57TH STREET
- **STREET 2:** 22ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-589-5300

**MAIL ADDRESS:**
- **STREET 1:** 40 WEST 57TH STREET
- **STREET 2:** 22ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G dated November 4, 2025 relating to the Class A Common Stock, $0.001 par value per share, of Warner Music Group Corp. shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; DARSANA CAPITAL PARTNERS LP<br> By: Darsana Capital Partners GP LLC,<br> Its General Partner<br>By: /s/ Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

---

| |
|:---|
| &nbsp;&nbsp; DARSANA CAPITAL PARTNERS GP LLC<br>By: /s/ Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

---

| |
|:---|
| &nbsp;&nbsp; DARSANA MASTER FUND LP<br> By: Darsana Capital GP LLC,<br> Its General Partner<br>By: /s/ Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

---

| |
|:---|
| &nbsp;&nbsp; DARSANA CAPITAL GP LLC<br>By: /s/ Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Anand Desai |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |

---

&nbsp;&nbsp; ANAND DESAI<br>By: /s/ Anand Desai<br>

## Ex-99

<u>Exhibit B</u>

<u>CONTROL PERSON IDENTIFICATION</u>

Darsana Capital Partners LP is the relevant entity for which each of Darsana Capital Partners GP LLC and Anand Desai may be considered a control person.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Warner Music Group Corp.

**Title of Class of Securities:** Class A Common Stock, $0.001 par value per share

**CUSIP Number:** 934550203

**Date of Event Which Requires Filing of this Statement:** 10/28/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>DARSANA CAPITAL PARTNERS LP | Names of Reporting Persons<br>DARSANA CAPITAL PARTNERS LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>8000000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>8000000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.5% | Percent of Class Represented by Amount in Row (9)<br>5.5% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, PN | Type of Reporting Person (See Instructions)<br>IA, PN |

---

| 1. | Names of Reporting Persons<br>DARSANA CAPITAL PARTNERS GP LLC | Names of Reporting Persons<br>DARSANA CAPITAL PARTNERS GP LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>8000000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>8000000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.5% | Percent of Class Represented by Amount in Row (9)<br>5.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>DARSANA MASTER FUND LP | Names of Reporting Persons<br>DARSANA MASTER FUND LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>8000000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>8000000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.5% | Percent of Class Represented by Amount in Row (9)<br>5.5% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

---

| 1. | Names of Reporting Persons<br>DARSANA CAPITAL GP LLC | Names of Reporting Persons<br>DARSANA CAPITAL GP LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>8000000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>8000000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.5% | Percent of Class Represented by Amount in Row (9)<br>5.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>ANAND DESAI | Names of Reporting Persons<br>ANAND DESAI |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>8000000.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>8000000.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>8000000.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.5% | Percent of Class Represented by Amount in Row (9)<br>5.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

**Item 1(a). Name of Issuer:**
Warner Music Group Corp.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
1633 Broadway, New York, NY 10019

**Item 2(a). Name of Person Filing:**
Darsana Capital Partners LP
Darsana Capital Partners GP LLC
Darsana Master Fund LP
Darsana Capital GP LLC
Anand Desai

**Item 2(b). Address of Principal Business Office:**
Darsana Capital Partners LP
40 WEST 57TH STREET, 22ND FLOOR, NEW YORK, NY, 10019

Darsana Capital Partners GP LLC
40 WEST 57TH STREET, 22ND FLOOR, NEW YORK, NY, 10019

Darsana Master Fund LP
40 WEST 57TH STREET, 22ND FLOOR, NEW YORK, NY, 10019

Darsana Capital GP LLC
40 WEST 57TH STREET, 22ND FLOOR, NEW YORK, NY, 10019

Anand Desai
40 WEST 57TH STREET, 22ND FLOOR, NEW YORK, NY, 10019

**Item 2(c). Citizenship:**
Darsana Capital Partners LP - Delaware
Darsana Capital Partners GP LLC - Delaware
Darsana Master Fund LP - Cayman Islands
Darsana Capital GP LLC - Delaware
Anand Desai - United States

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, $0.001 par value per share

**Item 2(e). CUSIP Number:**
934550203

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Darsana Capital Partners LP - 8,000,000
Darsana Capital Partners GP LLC - 8,000,000
Darsana Master Fund LP - 8,000,000
Darsana Capital GP LLC - 8,000,000
Anand Desai - 8,000,000

**(b) Percent of class:**

Darsana Capital Partners LP - 5.5%
Darsana Capital Partners GP LLC - 5.5%
Darsana Master Fund LP - 5.5%
Darsana Capital GP LLC - 5.5%
Anand Desai - 5.5%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

Darsana Capital Partners LP - 0
Darsana Capital Partners GP LLC - 0
Darsana Master Fund LP - 0
Darsana Capital GP LLC - 0
Anand Desai - 0

**(ii) Shared power to vote or to direct the vote:**

Darsana Capital Partners LP - 8,000,000
Darsana Capital Partners GP LLC - 8,000,000
Darsana Master Fund LP - 8,000,000
Darsana Capital GP LLC - 8,000,000
Anand Desai - 8,000,000

**(iii) Sole power to dispose or to direct the disposition of:**

Darsana Capital Partners LP - 0
Darsana Capital Partners GP LLC - 0
Darsana Master Fund LP - 0
Darsana Capital GP LLC - 0
Anand Desai - 0

**(iv) Shared power to dispose or to direct the disposition of:**

Darsana Capital Partners LP - 8,000,000
Darsana Capital Partners GP LLC - 8,000,000
Darsana Master Fund LP - 8,000,000
Darsana Capital GP LLC - 8,000,000
Anand Desai - 8,000,000

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

All of the securities reported in this Schedule 13G are directly owned by advisory clients of Darsana Capital Partners LP. None of those advisory clients, other than Darsana Master Fund LP, may be deemed to beneficially own more than 5% of the Class A Common Stock, $0.001 par value.

**Item 7. Identification and Classification of the Subsidiary**

Please see Exhibit B attached hereto.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**DARSANA CAPITAL PARTNERS LP**

**Date:** 11/04/2025

**By:** By: Darsana Capital Partners GP LLC, Its General Partner,By: /s/ Anand Desai

**Name & Title:** Anand Desai, Chief Executive Officer

**DARSANA CAPITAL PARTNERS GP LLC**

**Date:** 11/04/2025

**By:** By: /s/ Anand Desai

**Name & Title:** Anand Desai, Chief Executive Officer

**DARSANA MASTER FUND LP**

**Date:** 11/04/2025

**By:** By: Darsana Capital GP LLC, Its General Partner, By: /s/ Anand Desai

**Name & Title:** Anand Desai, Chief Executive Officer

**DARSANA CAPITAL GP LLC**

**Date:** 11/04/2025

**By:** By: /s/ Anand Desai

**Name & Title:** Anand Desai, Chief Executive Officer

**ANAND DESAI**

**Date:** 11/04/2025

**By:** By: /s/ Anand Desai

**Name & Title:** Anand Desai