Warner Music Group is selling itself as a whole, The Wall Street Journal reports. The company, which has a market capitalization of roughly $1.1 billion, received bids as a whole of around $3 billion, including assumption of debt, from companies, including Yucaipa Companies and Access Industries. Companies including Live Nation Entertainment, Sony and BMG Rights placed their bids for parts of Warner Music. The company is controlled by Thomas H Lee Partners, Bain Capital Partners and Providence Equity Partners and Warner’s CEO, Edgar Bronfman.
Click here for the story from The Wall Street Journal.