Warner Music Group is up for sale

After piling up 1.9 billion dollars of debt, Warner Music Group is entertaining offers for the sale of the company. It was believed that WMG would focus on selling off pieces of the organization, but are apparently only taking offers for the company as a whole. Rumored bidders include: "Los Angeles billionaire Ron Burkle's Yucaipa; industrialist Len Blavatnik's Access Industries Inc. and private-equity firm Platinum Equity." WMG may reach an agreement within a matter of weeks. The major label is trying to finalize a deal before Citigroup puts up EMI for-sale, which it recently took over due to massive amounts of debt. Find out more here.

Comments

[Jeff]

did not see this one coming...