Warner Music doesn’t believe in Believe
WMG will not make an offer to buy Believe. Warner Music Group will not make an offer for Believe. This marks the end of a sequence that began last month. WMG had shown an interest in Believe, the latter had reacted by opening a « data room »… on the one hand, then by insisting that the major formulate a « binding » offer before April 8. In the end, WMG did not follow through, and communicated on the subject on April 6 « Warner Music Group Corp. (« WMG ») announced today that, after careful consideration, it has decided not to submit a binding offer for Believe. WMG thanks Believe’s Ad Hoc Committee and management team for their time and cooperation, and wishes the company every success in the…