Live Nation Entertainment has entered the second round of bidding for Warner Music Group’s (WMG) recorded music assets, The Wall Street Journal reports. Live Nation is interested in acquiring only WMG’s label holdings and not its publishing arm, Warner/Chappell Music. Any deal will require regulatory approvals.
WMG’s bankers, Goldman Sachs and AGM Partners, have received offers for Warner as a whole as well as for its two major components. Some of the bidders include Sony, Guggenheim Partners, Access Industries and BMG Rights, a joint venture of KKR and Bertelsmann.
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