Bronfman-led group to seek entire Time Warner Music unit.

Financial News, November, 2003

An investor group led by former Seagram chief executive Edgar Bronfman Jr. is expected Tuesday to make an offer of about $2.5bn ([euro]2.1bn) for Time Warner's entire music business, a bid that may be too rich for the media giant to ignore.The Bronfman group's offer is likely to be below the potential value of an alternative deal with EMI Group. But EMI is bidding only for Time Warner's recorded-music operations, not for music publishing, which would be sold separately.

Furthermore, the risks of getting regulatory approval for a deal with EMI are seen to have risen considerably since Sony and Bertelsmann greed this month to merge their recorded-music businesses.