Wednesday 20 April 2011, 11:59 | By CMU Editorial
Warner Music still accepting new offers
Although owners of the Warner Music Group have reduced the number of bids to buy the firm that they are still considering down to just three, they are still open to accepting more, according to reports. As previously reported, after the second deadline for bids passed the Warner Music board decided they wanted to sell the whole music firm to one bidder. Of the offers on the table for the whole company, only three were acceptable.
However, according to Billboard, some of the other bidders – most of which originally bid for either just the Warner record labels or just the Warner Chappell publishing company – have been told they are welcome to now re-bid for the whole company, providing their offer price exceeds $3 billion. And it seems that Warner is now also happy for interested parties to talk to other previous bidders about making a joint offer, something the major’s bankers at Goldman Sachs have actively discouraged.
It is not currently clear what timeline Warner’s current owners are working to with regards completing any sale of their music company.