The second round of bidding ended last week in the auction of Warner Music Group, and the New York Times reports a purchaser could be revealed as early as this week. The selling price is expected to be about $3 billion.
At least 10 bidders have been vying for all or part of the company. Some investors have bid separately for the label and publishing divisions.
Media watchers say $3 billion is a healthy price for the company, and believe it is a good sign for the music industry that so many bidders are interested in Warner, given the industry’s slumping sales.
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About the AuthorSarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.
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