Warner bidding ends

Private equity group Yucaipa Companies has reportedly emerged as the frontrunner to buy Warner Music Group as bidding for the company closes.

The company is thought to have offered $3bn (£1.8bn) for the entire company – $200m (£122m) more than BMG – however this has yet to be confirmed.

As previously reported on musicweek.com other contenders for the music group included Leonard Blavatnik’s Access Industries, Sony/ATV and Live Nation.

MacAndrews & Forbes Holdings, Permira, Platinum Equity, Gores Group, Guggenheim Partners and Promthus have also put in offers for all or parts of the company.

Source: Music Week