Billionaire brothers Tom and Alec Gores were among three groups of suitors submitting bids for Warner Music Group Corp. by Monday’s deadline, according to news reports.

The brothers, who run separate L.A. private equity firms, submitted a joint bid. Also bidding jointly were Sony/ATV Music Publishing LLC., billionaire Ronald Perelman and financial services firm Guggenheim Partners LLC. Michael Jackson’s estate has an ownership stake in Sony/ATV. The third bid was made by Len Blavatnik, a former Warner Music director who now runs financial group Access Industry.

Warner Music, which has significant operations in Burbank and Santa Monica, has called a board meeting with the goal of picking a buyer in 48 hours, Bloomberg’s sources said. All of the parties declined to comment.

Two weeks ago the second-round bids came in around $3 billion, sources told Reuters. Ron Burkle’s Yucaipa Co. and BMG Music Rights, a joint music venture between German media giant Bertelsmann and private equity firm KKR, reportedly both dropped out of the bidding late last week.

Warner Music shares closed down 3 cents, or less than 1 percent, to $7.37 on the New York Stock Exchange.