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WMG LISTENING TO OTHER OFFERS?
EMI-WMG Talks Ongoing, But Fast Track Becomes Slow Ride
It doesn’t matter what the polls or pundits say—the race isn’t over until the ballots are counted or the Supreme Court decides the winner.

With that in mind, a report that the Warner Music Group-EMI merger talks are off the fast track and Time Warner is willing to hear offers from anybody with a couple billion dollars in cash makes sense. The EMI-Warner talks continue, and many expect the two to hook up eventually. According to the New York Post, Time Warner execs have met with Edgar Bronfman Jr. about selling him both WMG and Warner Chappell, and have begun meeting with BMG again, after talks broke off a month ago. TW is also expecting to get offers from private equity groups.

The proposed BMG-WMG deal was for a 50-50 joint venture, while EMI’s offer is reportedly $1.6 billion in cash and EMI stock for 75% of WMG, with Time Warner remaining in for 25%

As for Warner Chappell, the Post is also reporting that Haim Saban has been added to the list of those who want to buy it, in addition to Sony Music and former EMI North America boss Charles Koppleman, who apparently has the backing of Goldman Sachs. Seriously, if you’ve got a couple billion to spend and live in California, make sure you vote today.

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