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

As bidding for Warner Music Group draws to a close, Oaktree Capital Management and publishing company Primary Wave have submitted a joint bid for Warner Music's publishing arm valued at around $1.5 billion, the New York Post reported late Friday.

Other companies said to have made bids for all or part of Warner include Ron Burkle's Yucaipa Companies, Ron Perelman's McAndrews and Forbes, Live Nation, Sony and BMG, among others.

Oaktree and Primary Wave are also said to be looking at purchasing EMI, the report said. Warner Music's board is expected to review the bids next week.