Warner Music Group is still sorting through buy-out offers from several suitors. The latest development is that Sean Parker, best known as creator of Napster, is among a group of investors looking to purchase the music company. Parker is on board with a group led by billionaire Ron Burkle, who amassed enormous wealth mostly through the food and grocery industry.
Warner is expected to sell for more than $2 billion, and observers say the deal will close next month.
Parker has been working as a consultant to popular European streaming music service Spotify, which is trying to expand into the U.S. Thanks to his 3% stake in Facebook, Parker made his first appearance on Forbes’ Billionaires List last week.
To see who else is in the running to purchase Warner, click here.
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Sarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.View Author Profile
