Warner Music Group for sale?

According to the NY Times, Warner Music Group “has hired the investment bank Goldman Sachs to seek out potential buyers for the company, a process that will play out while Warner continues to explore buying the beleaguered British music giant EMI.

The decision to hire Goldman Sachs came after several suitors, including the buyout firm KKR, approached Warner’s management in recent months about buying the company, according to an executive briefed on the matter who spoke only anonymously.”

The Wall Street Journal reports that “the transactions being explored by Goldman might not necessarily result in a sale of the entire Warner Music Group. Instead, they could involve a sale of just Warner’s music-publishing arm. And at least some potential buyers have proposed buying just parts of Warner’s recorded-music operation which includes the Atlantic and Warner Bros. record labels.”

Source: Crazed Hits