Business News
Live Nation joins bids to buy Warner Music Group
Apr 1, 2011, 17:53 GMT
Los Angeles - Concert promoter Live Nation has presented a bid for Warner Music Group, joining a crowded field of would-be buyers for the prestigious record label, the Los Angeles Times reported Friday.
The report said that Warner will make a final decision on the bid by the end of the month. Aside from Live Nation, which is the largest US concert promoter, other bids have been made by Sony Music Entertainment, oil baron Len Blavatnik, supermarket magnate Ron Burkle, buyout firm Kohlberg Kravis Roberts & Co and private equity investor Platinum Equity, the report said.
Warner Music Group is the third largest family of record labels in the recording industry and has contracts with artists like Bruno Mars, Madonna and Paul Simon.
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