Coming from a very close source to Warner Music it is rumored that Goldman Sachs is hired as an advisor to help with the processing as the company, which is the world’s No.3, has surged 23% and might just be selling itself. This claim was made public on this Thursday.
According to a Private equity firm, Kohlberg Kravis Robert has contacted the administration of Warner Music to communicate their interest in taking over the detoriating company. The share of Warner Music Group had gained from 22.7 percent to $5.79 in figures as claimed by the New York Stock Exchange trading.
On Friday, Warner Music explained that a trial court has been set Paris which has found the CEO, Edgar Bronfman Jr., been guilty of charges stemming from few noticeable trades had made earlier in Vivendi Universal stock in 2002. The court decided to fine him along with a suspension on Bronfman, a former Vivendi vice chairman. Bronfman later gave a media statement that he has full intentions of appealing the unjust decision.
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