Printed from http://www.electronista.com

Warner Music looking to sell itself off, still buy EMI

updated 08:15 pm EST, Thu January 20, 2011

Warner Music talks to Goldman for sale and buyout

Warner Music is consulting with Goldman Sachs to at once sell itself off and looking into a buyout of its rival EMI. Sources said on Thursday night that it had reacted to multiple buyers, including professional acquirer Kohlberg Kravis Roberts, making offers by having Goldman start a formal look into the process where it would sell all or just of the company, such as its Warner/Chappell publishing wing. The New York Times' contacts didn't say how close Warner might be to a deal.

More definitive details have had Goldman maneuvering for the possible buyout of EMI. The bank was said talking to EMI debt owner Citigroup and could use a possible default by EMI to buy the struggling label from Citi.

Warner has little pressure to sell itself off as it has weathered the gradual decline of major label music better than most of its competitors. EMI, despite having influence over both current major bands and classics such as the Beatles and Pink Floyd, has been the worst hit.

Any deal with EMI could have a significant effect on digital music by consolidating a large percentage of music under a single label and influencing attitudes towards certain business models. Warner chief Edgar Bronfman has been opposed to Spotify and other usually free, ad-supported music services, instead favoring the pay-per-track of Amazon or iTunes, or else pay-only subscription models of Napster and Rhapsody.



By Electronista Staff
toggle

Comments

  1. malax

    Fresh-Faced Recruit

    Joined: Aug 2006

    0

    What?

    How do you simultaneously buy another company and sell yourself? How odd.

  1. Flying Meat

    Junior Member

    Joined: Jan 2007

    0

    Sounds like

    some regulatory end run or obfuscation to me.

    Shenanigans!!

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Linksys EA6900 AC Router

As AC networking begins to makes its way into more and more devices you may find yourself considering an upgrade for your home network ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Ooma Office small business VoIP

Voice over IP (VoIP) services have been around for a very long time. Only recently has the implementation become a bit more robust, al ...

Sponsor

toggle

Most Commented

 
toggle

Popular News