When: Today, Thursday, April 7th at 1:47pm ET
Where: CNBC's "Power Lunch"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche today on CNBC's "Power Lunch" (M-F, 1-2pm ET). All references must be sourced to CNBC.
KAYLA TAUSCHE: FINAL BIDS ARE DUE TODAY FOR WARNER MUSIC, AND THEY'RE PRETTY WIDE-RANGING SO FAR.THE LATEST -- AND BIGGEST -- IS A BID FOR ALL OF WARNER MUSIC FROM THE YUCAIPA COMPANIES -- VALUING IT AT JUST ABOVE $3 BILLION. THAT IS HIGHER THAN THE COMPANY'S ENTERPRISE VALUE OF $2.7 BILLION. ABOUT 70% OF YUCAIPA'S OFFER IS STRUCTURED IN DEBT. IT'S STILL UNCLEAR WHETHER THE KKR-BMG JOINT VENTURE WILL BID FOR ALL OR PART OF THE COMPANY AND JUST IN THE LAST WEEK INTEREST EMERGED FROM LIVE NATION BUT SOURCES TELL ME THEY ARE ONLY BIDDING FOR THE BUSINESS THAT MANAGES THE ARTISTS ON THE LABEL. ALSO IN THE HUNT FOR THAT RECORDED BUSINESS IS PRIVATE EQUITY FIRM MACANDREW & FORBES VALUING THAT HALF AROUND $1 BILLION. OTHER PARTIES INTERESTED AS OF TODAY, SONY, GUGGENHEIM PARTNERS, TAMARES, PLATINUM EQUITY, THE GORES GROUP AND PERMIRA.
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