Belive's board has asked Warner Music Group to make an acquisition offer for the French company.
to submit a formal bid for the French music company after stating that French financial regulators found an offer by a group that includes Believe CEOearlier this month that it approached Believe in February with a non-binding offer to combine the two companies at a price of “at least” 17 euros per share. It now has until Apr.
“The Board must permit…that all shareholders of Believe have the option to take advantage of the best possible offer, to the extent such offer is reasonably likely to be successful,” the board said in a statement earlier this month. Believe owns a large label services business, digital distributor TuneCore, publishing administration service Sentric and a stable of record labels including Naïve, Nuclear Blast and Groove Attack. The company’s business model is built around helping to develop artists and using digital marketing and distribution to impact local charts. In 2023, the company posted revenue of, up 15.7% from the prior year helped by geographical expansion and strong streaming growth.
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