Warner Music Loss Narrows

Warner Music Group said its net loss narrowed in the 10 months ended Sept. 30 after the record company reduced jobs and expenses.

The loss was $136 million compared with a net loss of $239 million in the year-earlier period, New York-based Warner Music said. Revenue gained 2% to $2.5 billion.

Time Warner Inc. sold Warner Music this year to a group of investors including Thomas H. Lee Partners, Bain Capital and Edgar Bronfman Jr. for $2.6 billion.