Record Label Shake Ups, Sales Make For A Tumultuous Year In The Music Industry
Record Label Shake Ups, Sales Make For A Tumultuous Year In The Music Industry

The New York Times reported Thursday (April 28) that a new suitor for Warner Music Group, which is currently in its third round of bidding, has emerged, although a source told Billboard.biz late Thursday afternoon that the report is inaccurate.

The paper cited an unnamed "person involved in the private negotiations" as saying that D.M.I., or Digital Music Industries, a consortium led by Germany technology entrepreneur and longtime digital music advocate Bernhard Fritsch, has made an offer for the company.

However, a source told Billboard.biz that the consortium did not get past the first round of bidding. The source declined to comment further on the record.

A decision on the auction is expected within the next couple of weeks. The many names in the mix include Ron Burkle's Yucaipa Companies, Len Blavatnik's Access Industries and others. Billboard.biz will have more on this matter as it develops.

Questions? Comments? Let us know: @billboardbiz

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