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 is Sr. News Editor of MusicRow Enterprises. Now in her eighth year with the company, she contributes to musicrow.com and the print magazine. She welcomes your feedback to email@example.com. Please send press releases, photos, and news items to firstname.lastname@example.org.
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