This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Labels & Publishers Top Stories
Warner to start considering bids this week
By CMU Editorial | Published on Monday 21 February 2011
Management at Warner Music will reportedly start accepting formal offers for some or all of the music major this week. As previously reported, over 20 parties have apparently approached bankers Goldman Sachs who were brought in to review options for Warner’s current shareholders.
It is thought Warner’s current owners will consider all out takeover proposals, as well as bids for publishing firm Warner/Chappell. If the latter deal was to be done, the proceeds might be used to buy some of EMI when that is put up for sale later this year.
BMG backer KKR is still one of the favourites to bid, while the also recently acquisitive music publishing firm Imagem may also make an offer, particularly for Warner/Chappell.
Another name being tipped this weekend was Russian billionaire Len Blavatnik, whose US-based conglomerate Access Industries is already significant shareholder in the Warner Music Group. There is speculation Blavatnik might move to take complete ownership of the whole company, or of the publishing bit.