Live Nation bids for Warner Record labels

Music powerhouse Live Nation Entertainment Inc. is bidding to buy part of Warner Music Group Corp., according to people familiar with the matter, the Wall Street Journal reports.

The move could combine under one roof the world’s third-largest recorded-music company with the biggest concert promoter, artist-management firm and events-ticketing operation.

Live Nation is interested in Warner’s recorded-music operation, not its music publishing division, according to the people familiar with the matter. It’s not clear how much Live Nation offered, or how aggressively it may participate in further rounds of bidding.

Source: Wall Street Journal