Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Bertelsmann reportedly targeting Warner Music

Share this article

Bertelsmann reportedly targeting Warner Music
Photo: DPA
11:47 CEST+02:00
German media group Bertelsmann and investment fund KKR want to buy the US company Warner Music for up to $3 billion, a press report said Wednesday.

Talks with Warner Music will take place in the coming days in New York, sources close to the matter told the business daily Handelsblatt, with one estimating the chances of success at 60 percent.

"Bertelsmann is ready to invest," boss Thomas Rabe said Tuesday, adding that the group had set aside €1 billion ($1.4 billion) to do so while remaining vague with respect to potential acquisitions.

Bertelsmann and KKR are particularly interested in rights owned by Warner Music to works by musicians like Madonna and Eric Clapton. But distribution operations could be sold on to rivals Universal or Sony, the report suggested.

Getting value from music rights is is the core activity of BMG Rights Management, a venture that is 51 percent owned by KKR and 49 percent by Bertelsmann.

Together they control the copyrights of 2,000 artists and some 300,000 songs.

AFP/mry

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement