Warner Sale Could Be Completed This Week

Warner Sale Could Be Completed This Week

Warner Sale Could Be Completed This Week
Final bids to purchase Warner Music Group are due today with a deal valued at more than $3 billion expected to be reached by end of week, according to Billboard.biz. Leading the third round of bids are financial groups Access Industries and a joint bid by Platinum Equity and the Gores Group. WMG was made available for purchase in January when the company hired investment bank Goldman Sachs to seek out potential buyers. Since January, shares of the company have risen nearly 60 percent to $7.47 at the end of last week. (5/2)

Facebook To Top $2 Billion
Social media property Facebook is expected to top $2 billion in earnings before interest, taxes, depreciation, and amortization in 2011, according to a Billboard.biz report. The estimated growth exceeds the approximate $50 billion valuation that was implied when Goldman Sachs and Digital Sky Technologies invested in the company in 2009. (5/2)
 

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