Lee, Bain Make 2X Money With Warner Music Investment

Warner Music was a very good deal for Thomas H. Lee and Bain Capital.

Today, Access Industries agreed to buy Warner Music in a $3.3 billion deal. Access beat out a bid from Tom and Alec Gores’ Platinum Equity/Gores Group. Access also trumped an offer from Sony which partnered with Guggenheim Partners and investor Ron Perelman. The deal may not be done; the Gores brothers are reportedly considering boosting their offer for Warner.

Blavatnik’s Access wins Warner Music for $3.3 bln

Access Industries is buying Warner Music Group in a $3.3 billion deal. Access, which is paying $8.25 a share, beat out a bid from Tom and Alec Gores’ Platinum Equity/Gores Group. Access also trumped an offer from Sony whcih partnered with Guggenheim Partners and investor Ron Perelman. Goldman Sachs and AGM Partners advised Warner, while Credit Suisse and UBS served as financial advisors to Access.

Warner Music Group Looking For Potential Buyers – Reuters

Warner Music Group is looking for potential buyers and Goldman Sachs is advising on the process, a source familiar with the matter told Reuters said on Thursday. New York-based Warner is the world’s No. 3 music company and is the home for the band, Green Day. The New York Times reported the decision to hire Goldman came after a number of potential buyers including Kohlberg Kravis Roberts & Co. approached Warner Music’s to express an interest in buying the company.

Warner Music Losses Narrow

NEW YORK (Reuters) – Warner Music Group (WMG.N) posted a narrower quarterly loss on Thursday as the decline in music CD sales at the world’s third largest music company was partially offset by growth in digital services. Net loss for the fiscal second quarter ending in March was $25 million, or 17 cents a share, […]

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Apple Downloads LaLa

Late Friday, the dominant online music retailer Apple confirmed what had been rumored all day long, that it bought La La Media, operators of the digital music service known as Lala. The deal terms were not disclosed, but the acquisition may well be an example of the old phrase, “If you can’t beat ‘em, then […]

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