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Thursday, March 31, 2011

Live Nation After WMG?

ONE NATION UNDER IRVING: There he goes again. Live Nation has reportedely made a bid for Warner Music Group, according to two sources, says the N.Y. Post's business writer Claire Atkinson. The company is understood to be most interested in buying the recorded music business. Live Nation joins KKR’s BMG Rights Management, Ron Burkle’s Yucaipa, Platinum Equity and Guggenheim Partners, along with Sony and Universal as potential buyers. Atkinson quotes sources as saying it would be difficult for Live Nation to mount a bid "given its stock price and its debt levels." In a February interview with Bloomberg, however, LN Chairman Irving Azoff said he was working closely with Liberty Media Corp chief John Malone in eyeing any potential acquisitions. (3/31p)

 
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