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Tuesday, November 13, 2012

WMG Eyeing Sony/ATV Catalog

BUYER’S MODE: Looks like Warner Music Group’s Stephen Cooper is in acquisition mode. After his reshuffle last week, which included refinancing some outstanding loans for financial flexibility, WMG is reportedly making a bid for Sony/ATV’s Rosetta catalog with the rights to some 30k songs from artists like Bryan Ferry, DEVO and Tears for Fears, according to the N.Y. Post’s Claire Atkinson. Bids for the property are due Nov. 19, with the value of the collection pegged at between $130 and $150 million, with revenue in the range of $25 to $40 million. Initial bidders included BMG Rights, G2 Investment Group and Primary Wave, which has teamed with Oaktree Capital Group. Others in the bidding include L.A.-based Bicycle Music, Canada’s ole and Saban Capital, a private-equity firm formed by media mogul Haim Saban. (11/13a)

 
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