Five Companies Competing To Lose Money On Warner Music Group

    The bidding war for the failing Warner Music Group is under way, with at reportedly at least five companies seriously fighting for the right to lose some money on a record label: Sony Music (which would make them a super conglomerate), BMG Rights Management, Platinum Equity, Yucaipa Companies and Access Industries, which already owns 2% of Warner. The huge news is that all five companies are willing to spend at least $1.4 billion on the company, which seems absurdly ridiculous. [Hypebot]