UMG Unveils a Welcome Share Buyback Plan

Universal Music Group launched its first €500 million share buyback program on Wednesday, with the option to subsequently cancel those shares. This is no April Fool’s joke. A few days after our article on UMG’s disappointing stock performance, the major label launched its €500 million ($579 million) share buyback program on April 1. Initially announced on Monday, March 30, this is the music major’s first share buyback program. The purchases…