Sony/ATV Music Publishing LLC, owned by Sony Corp and Michael Jackson’s estate, has submitted a bid for Warner Music Group Corp ahead of the deadline, sources said.
Sony/ATV made a joint bid with billionaire Ronald Perelman and Guggenheim Partners LLC, said the sources. Warner Music called a board meeting with the aim of picking a buyer in 48 hours, people said.
Sony/ATV’s bid is in the $3 billion (Dh11.03 billion) range offered by Blavatnik and the Gores brothers, one person said. The company, headed by Martin Bandier, is interested Warner Music’s publishing business, while its partners are focused on recorded music, one of the people said.
Leave a Reply