Believe is pleased to announce that Warner Music Group (WMG) has decided not to submit a binding offer for a business combination, a decision that WMG indicated last Saturday it had taken after careful consideration.

As a reminder, the French digital music specialist had asked WMG towards the end of March to submit a 'binding, unconditional and fully-funded' offer by April 7 at the latest.

Believe's ad-hoc committee will review the situation with all interested parties to determine the next steps regarding the possible evolution of control of the company, and will inform the market accordingly.

Copyright (c) 2024 CercleFinance.com. All rights reserved.