Live Nation Interested In Warner Music?
April 1, 2011
Live Nation has reportedly become the newest bidder on Warner Music Group, focusing on the label's recorded music division. Sources tell the Wall Street Journal that Live Nation has placed a bid on WMG, but it is unknown how much the bid was for, or how aggressive Live Nation plans to be in their pursuit of the label.
The WSJ notes that a Live Nation-WMG combination, along with Front Line Management, would be able to handle "virtually every facet of an artist's career" with "across-the-board marketing and promotional events." However, the paper also warns that such a purchase would bring intense regulatory scrutiny, perhaps even more than the Live Nation-Ticketmaster merger. Meanwhile, the New York Post notes that Live Nation still holds $1.7 billion in long term debt, and one source says that "Wall Street will kill them for this," if the company goes ahead with its pursuit of WMG.
and from an earlier post in another thread:
Liberty Media on the Prowl?
Live Nation is “looking through Liberty’s whole portfolio” for opportunities to work together, said Azoff, who pointed to home-shopping channel QVC, Sirius XM Radio Inc. and premium cable channel Starz as areas of interest.
Concert promoter Live Nation Entertainment Inc. is looking at possible acquisitions with John Malone’s Liberty Media Corp., its largest shareholder, and is considering ways the companies can work together.
“We’re on the prowl together,” Live Nation Chairman Irving Azoff said in an interview yesterday at the company’s Beverly Hills, California, offices. Liberty Media Chief Executive Officer Greg Maffei participated by phone.
The ties are deepening as Liberty Media increases its stake in Live Nation, the world’s biggest concert promoter and ticket- seller. Live Nation is “looking through Liberty’s whole portfolio” for opportunities to work together, said Azoff, who pointed to home-shopping channel QVC, Sirius XM Radio Inc. and premium cable channel Starz as areas of interest.