New York | Warner Music Group re-ignited its plans for an initial public offering, becoming the latest music company to cash in on a streaming boom that's only accelerated in the coronavirus era.

Backed by billionaire Len Blavatnik, shareholders of the New York-based record group behind artists such as Cardi B, Ed Sheeran and Bruno Mars plan to sell 70 million shares of its Class A common stock priced between $US23 ($34.65) and $US26 a share - raising as much as $US1.8 billion ($2.7 billion) - according to a regulatory filing on Tuesday.

Bloomberg