Warner Music Sale Update

As we all have been waiting ever so patiently to find out, Warner Music Group is still in the mist of their bidding “war” in New York right now. As of this Tuesday, the board would be in review over the next couple of days. Bidders still include billionaire Len Blavatnik’s Access Industries,  joint bidders Tom and Alec Gores’ Platinum Equity/The Gores Group and a pair of separate bids from Sony Corp’s recorded music arm and publishing units in partnership with investor Ron Perelman and Guggenheim Partners. Goldman Sachs and AGM Partners are handling the final round of bidding and the expected offer is still said to be just over $3 billion for the whole company. According to Reuters.com, the winning bidder will be announced Friday.

Amidst all this bidding with Warner Music, EMI has managed to also become a part of the industries conversation. And most are saying that since Warner started this whole thing, EMI is going to finish it. Numis Securities media analyst Lorna Tilbian said “Whoever gets Warner Music will undoubtedly take a look at EMI next. It’s the same old story with EMI – it has got to get together with someone else to exploit the synergies.”

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