SonyATV makes Warner approach

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Offline Natali-Natali

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SonyATV makes Warner approach

  • on: January 22, 2011, 01:24:54 PM
http://www.telegraph.co.uk/finance/news ... roach.html

Sony/ATV, the music group jointly owned by Sony and the Michael Jackson estate, held talks late last year to buy Warner-Chappell, the $2bn-plus music publishing arm of Warner Music.


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News of the discussions with Sony/ATV came as it emerged on Friday that private equity house KKR has also held talks to buy Warner-Chappell from Warner Music, the home of recording legends such as the Bee Gees and Fleetwood Mac.

The news sent Warner's shares up 23pc in early trading.

Warner Music is simultaneously being advised on tabling a bid for EMI should lender Citigroup get the keys to its British music rival later this year.

Separately, sources told The Daily Telegraph that Guy Hands' Terra Firma late last year embarked on a last-ditch attempt to hold on to debt-laden EMI by approaching Warner Music to buy its recorded music division alongside another financial player.

Terra Firma is expected to breach banking covenants on EMI in May, as its investors have been unwilling to inject more funds into the music group. However, the private equity group is understood to have convinced some current investors and potential partners to help it reach an agreement with Citigroup over funding if it can secure Warner's recorded music arm and merge it with EMI. Current investors include Canada Pension Plan and potential partners are understood to include a sovereign wealth fund and another private equity group.

Although not an official appointment, Terra Firma is understood to have worked with Morgan Stanley on M&A activity around EMI.

Investors were attracted to the fact that buying Warner's recorded music division would give EMI international scale and a US presence. Such a move is seen as a last-ditch attempt by Terra Firma to hold on to what would most likely be a minority stake in EMI. Industry sources, however, said Terra Firma would have difficulty pulling off such a deal with a covenant breach so close, and most expect the private equity firm to lose control of EMI.

The news comes as companies including Warner Music and KKR's BMG Rights Management are circling EMI in the light of the covenant breach. Warner is understood to have hired Goldman Sachs to advise on the approaches.

All the music groups refused to comment.


After hearing that Warner Music was holding talks to sell its publishing arm, sources said Mr Hands made an informal approach to Warner chief executive Edgar Bronfman for its recorded music division in December.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline voiceforthesilent

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Re: SonyATV makes Warner approach

  • on: January 23, 2011, 05:37:51 PM
Okay - was trying to post to the other one when Frost beat me and locked it.. I'll try again :)

Do you know why I think this article has interest? Because the players were mentioned by a MJ insider in 2003. I just can't put these dots together but I'm hoping to take time to do that.

All credit to MJDH.net - that is where I found the information. The insider was/is LTTW (looking through the window). The information was found on a Greek fan site.

http://www.michaeljacksonhoaxdeath.net/ ... 0&start=20

Quote
Anyways, there was a merger between Motown and Vivendi Universal Urban/R&B promotional department. Jean Fortrou may or may not be making some sort of announcement, but do not expect Michael's announcement to take place by the end of September. Don't jump to conclusions either because I'm not insinuating anything by that. Many of you are probably wondering what kind of role Richard Branson and Clive Davis will play, if any, in future recordings by Michael. So I guess you are wondering what this all means for MJ, if anything? Some of you may already know, others are probably dying to know. I wish I could tell you but its not my position to do it. Add into the mix that TM's contract has not been extended, and you have a potpourri of possibilities. Time will tell you, not me. I have told you enough already, much more than you needed to know. I think I made it clear what I wanted to say or rather what I felt you should at bare basic know. Draw on it. I wish I could tell you it all, but that would not be so wise for reasons I do not wish to get into. I feel pressure to tell you it all. I want to. I just cannot.

Did you notice the internet agreement between Sony/Universal and parts of EMI? EMI will be leaving the FTSE 100 by the end of this month, or so I have been told. This I found particularly fascinating, considering Michael's "black and white" relationship with the two respective business entities. What is really interesting to note is that the Stones releasing their singles on SACD. The funny part about that is that its half owned by Universal and half by Sony.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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Offline anewfan

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Re: SonyATV makes Warner approach

  • on: January 23, 2011, 09:46:25 PM
@voice...thank you for sharing that link. Those riddles make so much more sense in English.

This is a very interesting thread for anyone that wants to go over and read it.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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Offline fordtocarr

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Re: SonyATV makes Warner approach

  • on: January 23, 2011, 10:00:12 PM
ANNNDD is Sony bought Warner music, MORE money for Michael..his catalog GROWS!!!   Funny too, that a "part" of Warner (not the music part as far as I know, but it could be also) is TMZ...hummmm....buy THAT Michael!
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline VeryLittleSusie

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Re: SonyATV makes Warner approach

  • on: January 24, 2011, 10:58:51 AM
Remember the handwritten note from Michael? It said something about digital people from Warner...  :?
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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Offline fordtocarr

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Re: SonyATV makes Warner approach

  • on: January 24, 2011, 05:16:20 PM
He did write about Warner on that note that was sold on eBay.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline Glinda

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Re: SonyATV makes Warner approach

  • on: January 24, 2011, 06:13:40 PM
Live streams or  maybe releasing albums as download?
Madonna streamed her concert once.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »