Los Angeles billionaire investors Alec and Tom Gores, who last month lost an auction to acquire Warner Music Group Co., could make a bid for British recording company EMI Group, according to a news report.
Bloomberg News reported late Wednesday that Alec Gores may seek to partner with Tom, citing a person with knowledge of the situation. The brothers run separate private equity firms, Alex Gores’ Gores Group and Tom Gores’ Platinum Equity.
Current EMI owner Citigroup Inc. this week announced plans to sell the music company or take it public. The bank took over London-based EMI, whose artists include Keith Urban and Coldplay, in February after the record company failed to meet the terms of loans used to finance its 2007 takeover.
The Gores brothers were among three groups of finalists for Warner Music. Len Blavatnik’s Access Industries won the auction with a $3.3 billion bid that included debt.
Representatives of the Gores brothers’ firms have not commented on the report.
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