WMG Suitors Now at Five

AND THEN THERE WERE FIVE: The U.K. Financial Times reports that “at least five groups” have been told they have gone through to the second round of the auction for all or parts of Warner Music Group. They include Platinum Equity and Ron Burkle’s Yucaipa Companies, along with previously announced bidders Len Blavatnik’s Access Industries, Sony Music and BMG Rights Management. Most of the offers were for Warner/Chappell Music Publishing, but a source told the publication, “at least one initial offer had come in for the entire company.” The publishing bids reportedly range from $1.4 billion to $2 billion. “At least one bidder, BMG Rights Management, the joint venture between Kohlberg Kravis Roberts and Bertlesmann, has been told to up their bid.” (3/8a)