Warner Music Group is set to be sold

Warner Music Group company is set to be sold for $3 billion, according to the reports by British press. The Independent newspaper claims that the deal will be signed within few days.

The company – which currently has debts around $2 billion – was put on sale in January.

According to the reports, there are two bids to buy Warner Music Group. One was made by Gores brothers, who own the number of media and communications companies. Another – by Russian tycoon Len Blavatnik, the owner of media umbrella firm Access Industries, who already is the auctioneer of Warner Music Group.

Warner Music Group currently has contracts with such artists as Paramore, Muse, Linkin Park, Green Day and others.