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WMG

Warner Music Group Corp.

6/18/2013, 9:54 PM ET

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Wednesday, August 3, 2011, 3:12 AM Citigroup (C) receives first-round bids of $3B-4B from over 10 groups for EMI, including from Sony (SNE), Universal (VIVDY.PK), Warner Music (WMG) and BMG. The price will depend on whether EMI is sold as one or divided between publishing and recorded music. (previous) Comment! [M&A, Consumer]
Tuesday, July 19, 2011, 8:43 AM Baidu (BIDU) announces it's launching a music service in partnership with Universal Music (V), Warner Music (WMG), and Sony Music (SNE). The deal, which requires Baidu to compensate its partners for the use of their content, represents a breakthrough given how Baidu has long been accused of turning a blind eye to piracy. (PR) Comment! [Tech]
Sunday, July 10, 2011, 6:45 AM Spotify will look to go head to head in the U.S. with the likes of Pandora (P) this week when it finally launches its music-streaming service in the country, sources say. Spotify has deals with Universal Music (VIVHY.PK), Sony (SNE) and EMI (C), and is close to one with Warner Music (WMG). Comment! [Tech, Consumer]
Thursday, July 7, 2011, 7:41 AM Sony (SNE) and BMG are among those interested in EMI, which Citigroup (C) hopes to sell within a couple of months, sources say. Other potential bidders include Len Blavatnik, who is leading the $1.3B buy of Warner Music (WMG), and Universal Music (VIVDY.PK). Comment! [M&A, Consumer]
Tuesday, June 21, 2011, 8:09 AM EMI has started to explore a sale, recapitalization or IPO four months after Citigroup (C) seized control of the music label from P-E group Terra Firma for failing to pay its debts. An analyst said she expects "a lot of bidders for EMI, including the guys who won Warner (WMG)." Comment! [M&A]
Friday, May 20, 2011, 7:49 AM Apple (AAPL) gets an advantage on Google (GOOG) and Amazon (AMZN) by securing agreements with Sony (SNE), EMI (C) and Warner (WMG) to let users of a new cloud music service access their songs from handheld devices via the Internet, sources say. However, Apple still needs deals with publishers. (previous) Comment! [Tech, Consumer]
Tuesday, May 10, 2011, 6:55 AM Warner Music Group (WMG): FQ2 EPS of -$0.25 beats by $0.03. Revenue of $682M (+2.4% Y/Y) beats by $84M. (PR) Comment! [Earnings, Consumer]
Friday, May 6, 2011, 3:53 PM Tom and Alec Gores are considering making a revised bid for Warner Music Group (WMG +3.8%), Bloomberg reports. They're weighing whether to offer $8.35-$8.50/share; Warner Music agreed today to be purchased for $8.25/share by Len Blavatnik. Comment! [M&A]
Friday, May 6, 2011, 10:39 AM Trading resumes in Warner Music Group (WMG +2%) after confirmation that Access Industries, the conglomerate controlled by Len Blavatnik, agrees to acquire the world's third-largest recorded music company in a $3.3B deal. The deal caps a three-month sale process in which as many as 10 bidders vied for the company. (PR) Comment! [M&A]
Friday, May 6, 2011, 9:45 AM Warner Music Group (WMG) halted. Access Industries said to win auction with $8.25/share bid, as expected. 3 Comments [Breaking News]
Thursday, May 5, 2011, 7:48 AM Warner Music (WMG) could reach an agreement to sell itself today, when its board will meet to make a decision. Sources say that Access Industries, a conglomerate controlled by Len Blavatnik, is in pole position with an offer that would value Warner at around $3.3B including debt. (previous) Comment! [M&A, Consumer]
Tuesday, May 3, 2011, 2:24 PM Sony/ATV Music Publishing, owned by Sony (SNE) and Michael Jackson’s estate, submitted a bid for Warner Music Group (WMG) ahead of yesterday’s deadline, Bloomberg says. Sony/ATV’s entry increases the number of known bidders to three after Ron Burkle decided to walk away last week. 1 Comment [M&A]
Monday, May 2, 2011, 8:05 AM Third and final bids for Warner Music (WMG) are due today and the company could be sold by the end of the week in a deal valued at over $3B, a source says. Offers from two financial groups lead the round, with Sony (SNE) on the sidelines and BMG dropping out last week. (previous) Comment! [M&A, Consumer]
Thursday, April 14, 2011, 7:58 AM Live Nation (LYV), Sony (SNE) and BMG Rights look set to miss out after Warner Music (WMG) has reportedly decided to sell itself as one entity rather than in parts. There are several other bidders still in the running as they made offers for the whole company. (previously) Comment! [M&A]
Tuesday, April 12, 2011, 9:53 AM Citigroup (C), which took control of EMI from Guy Hands earlier this year, will seek a buyer for the entire music company rather than selling it off in pieces, NY Post reports. The decision may put an end to the interest shown by Bertelsmann in EMI’s music publishing division and could weigh on the ongoing auction of rival Warner Music Group (WMG -1.6%). Comment!
Monday, April 11, 2011, 7:52 AM Warner Music (WMG) is expected to review second-round bids this week, a source says. Up to 10 investors have made offers ranging from $2.8B to just over $3B on an enterprise-value basis. The potential buyers for all or part of Warner include Live Nation (LYV) and Sony (SNE). Comment!