Sony/ATV Music Publishing LLC, owned by Sony Corp. (6758) and Michael Jackson’s estate, submitted a bid for Warner Music Group Corp. (WMG) ahead of yesterday’s deadline, two people with knowledge of the auction said.
Sony/ATV is working with billionaire Ronald Perelman and Guggenheim Partners LLC, said the people, who weren’t authorized to talk publicly. Warner Music yesterday called a board meeting with the aim of picking a buyer in 48 hours.
