LONDON, Feb 20 (Reuters) - Billionaire investor Len Blavatnik is expected to bid this week for the publishing arm of Warner Music Group WMG.N, the Sunday Times reported, citing no sources.
The publishing arm, which generates a more stable revenue stream than the recorded music business, holds the rights to more than one million music compositions, including “Happy Birthday to You”.
Warner Music, the world’s third-largest music company, is reported to have attracted interest from more than 20 parties since putting itself up for sale in January. [ID:nSGE71A076]
Blavatnik has shareholdings in several major firms via his Access Industries holding company, including BP’s Russian joint venture TNK-BP TNBP.MM, the world’s largest aluminium producer UC RUSAL (RUAL.PA)(0486.HK) and petrochemicals maker LyondellBasell ,LYB.N>.
The Mail on Sunday reported that Blavatnik was interested in bidding for the whole of Warner Music.
Reporting by Julie Crust; editing by Sophie Walker