Is Former Napster Honcho Sean Parker Interested In Warner Music Group?
March 14, 2011 at 4:01 AM (PT)
SEAN PARKER, who helped found NAPSTER and was also involved in starting up PLAXO and FACEBOOK -- and is currently an adviser and investor with SPOTIFY -- is reportedly interested in bidding for WARNER MUSIC GROUP, reports PETER KAFKA in ALL THINGS DIGITAL.
"The digital entrepreneur is considering putting his money into a consortium bidding on WARNER MUSIC GROUP," reports KAFKA, "which put itself on the block earlier this year. Sources tell me that PARKER isn’t part of the formal bid, but is aligned with a group led by investors RON BURKLE and DOUG TEITELBAUM."
SPOTIFY is a music cloud subscription service that has reached the milestone of one million paying subscribers across EUROPE (NET NEWS 3/8), but is still looking to launch in the U.S. Part of the holdup is a lack of a deal with WMG. Industry insiders speculate PARKER's interest in bidding for the company is tied to his interest in getting a deal with SPOTIFY done.