Warner Music Group to be Sold by End of Week
According to inside sources, Warner Music Group is to be sold for $3 billion as early as this
According to inside sources, Warner Music Group is to be sold for $3 billion as early as this week. The group encompasses the imprints Atlantic Records, Reprise Records and East West Records among others. The third round of bids is currently being led by Len Blavatnik’s Access Industry and a joint bid by Tom and Alec Gores’ Platinum Equity and Gores Group that owns a series of powerful media and communications. Blavatnik owns media umbrella firm Access Industries as well as shares in the company and sat on its board until 2008. It remains to be seen if this development will effect the careers of artists like Janelle Monaé, Diggy Simmons, Wiz Khalifa, B.o.B, Mac Miller and even Lupe Fiasco. Stay tuned!
Source: NME
