Warner Music Group are preparing for a sale. It has been reported that Warner has hired Goldman Sachs to seek out buyers.
Warner Music is home to such artists as Green Day, Faith Hill, and the Red Hot Chili Peppers. According to the Times’ story, Warner’s private-equity investors want Warner to either place bet big on music by buying EMI, the smallest of the four major labels or “cash out.”
The major labels are in rapid decline and they dont seem to be adapting as well as they should be. Sony is closing manufacturing plants, EMI is in big trouble financially and now Warner are looking to exit.