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Warner Music Has a Plan to Acquire Believe

Warner Music Group's Believe acquisition bid, which has not officially been made, was floated by the company in a new financial disclosure.

The U.S.-based label group was responding to a March 1 announcement made by Believe that its board of directors had approved Ladegaillerie’s path to taking the company private — a statement that also said there had been another “interested party” in acquiring Believe that was requesting due diligence information ahead of a possible formal bid. Investors in Europe responded positively to WMG’s potential offer, sending Believe’s shares up more than 5 percent in trading today. The company, which owns TuneCore and labels such as Groove Attack and Naïve, began trading on the Paris Euronext exchange in June 2021.

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