Warner board to review bids this week: source (Reuters)
NEW YORK (Reuters) – filmmaker Music Group's board is expected to analyse second-round bids for the company at a gathering in the reaching week, a maker old with the concern said.
Up to 10 investors have place in bids aweigh of the meeting, substance a arrange of valuations from $2.8 1000000000 to slightly above $3 1000000000 on an enterprise-value basis, the maker said.
Among the possibleness buyers for all or conception of filmmaker are music companies Live Nation and BMG Rights Management, a joint venture between Bertelsmann and clannish justness firm Kohlberg Kravis revivalist and Co, the maker said.
Other bidders allow Platinum Equity, billionaire Ron Burkle's Yucaipa Co, billionaire Len Blavatnik, investor Ron Perelman and Sony Corp, which is specifically fascinated in the song business unit.
A filmmaker spokesman declined to comment.
Warner Music effectively place itself up for sale in January when it hired Goldman Sachs Group Inc and AGM Partners to explore strategic options after it was approached most selling its assets.
(Reporting by Yinka Adegoke and Nadia Damouni; Editing by Dale Hudson)
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