Report: Live Nation Bidding For Warner Music Group
March 31, 2011 at 4:43 PM (PT)
LIVE NATION ENTERTAINMENT INC. has been identified by the WALL STREET JOURNAL as one of the parties interested in acquiring the recorded-music arm of the WARNER MUSIC GROUP. Reports that such a transaction would put the world's third-largest label group with the biggest concert promoter, artist-management firm and events-ticketing operation under the same corporate umbrella.
Terms of the bid was not disclosed, nor was there any speculation as to what might become of WMG's publishing arm, WARNER/CHAPPELL.
The WSJ points out that the deal is certain to be scrutinized by regulators over anti-trust concerns. Nevertheless, "LIVE NATION has advanced to the second round of bidding, but the people familiar with the matter cautioned that any deal could still fall apart for any number of reasons, including financing and regulatory issues."