Today’s (5/3) New York Post reports that Warner Music Group is likely to be sold to either the Gores brothers or Len Blavatnik’s Access Industries. Both are said to have bid about $3 billion for the company.
According to the Post, billionaire investment brothers Tom and Alec Gores are interested in acquiring Warner because a third brother, Sam Gores, is chairman of the Paradigm Talent Agency.
Blavatnik already owns 2 percent of Warner and has strong ties to Warner Music CEO Edgar Bronfman.
After the Warner buy-out ends, EMI is expected to hit the auction block. BMG Rights Management has reportedly exited the race for Warner in hopes of acquiring EMI. Read more.
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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
