Warner Music Group plans to buy EMI Group

Warner Music Group plans to buy EMI Group

Warner Music Group Corp. is going to make another offer to purchase the British record label company EMI Group PLC.

In March, Warner Music offered to purchase EMI for $4.2 billion (3.14 billion EUR), but the bid was rejected.

In May, EMI agreed to be purchased by private equity firm Terra Firma for $4.7 billion (3.5 billion EUR).

Warner Music said if it makes another offer, it will be pre-conditional to obtaining the necessary antitrust clearances.

Warner Music shares lost 23 cents to $16.48 in afternoon trading.