Thomas H. Lee Partners LP, Bain Capital LLC, Providence Equity Partners and Quadrangle Group have joined Edgar Bronfman Jr. in talks with Time Warner Inc. about a possible
$2 billion bid for the entertainment company’s music businesses,
three people familiar with the matter said.
EMI Group Plc has bid more than $1 billion for Time Warner’s
music business, other people familiar with the matter said. The
pressure for consolidation in the industry has intensified since
Bertelsmann AG and Sony Corp. said yesterday they plan to merge
their music units.
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Regulators may approve an acquisition by buyout companies
more readily than a combination of EMI and Time Warner, which
would control 24 percent of the music market. Sony and Bertelsmann
would have 25 percent, according to the International Federation
of the Phonographic Industry.
Bloomberg News
