Warner Music Group, one of the four major record companies, has hired the investment bank Goldman Sachs to seek out potential buyers for the company, a process that will play out while Warner continues to explore buying the beleaguered British music giant EMI.
The decision to hire Goldman Sachs came after several suitors, including the buyout firm Kohlberg Kravis Roberts, approached Burbank-based Warner Music’s management in recent months about buying the company, according to an executive briefed on the matter who spoke only anonymously.
One possible outcome of the auction is for Warner to sell not the entire company but only Santa Monica-based Warner/Chappell, its prized publishing arm, said a person with direct knowledge of the process.
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