The decision clears a path for a consortium led by founder Denis Ladegaillerie to take the French company private.
A competing bid from a group including CEO Denis Ladegaillerie violates rules around tender offers, the board says.
They’re getting into their business — Warner's planned bid for Believe is only the latest example — and distributors are doing things that only labels used to.
The company said it expects strength in paid streaming and a resurgence in ad-supported streaming to push organic growth over 20% in 2024.
The label group said it wants to make a potential bid for the French digital company.
The French digital company's founder and two investment funds propose a private takeover valued at 15 euros per share.
The Billboard Global Music Index declined 0.3% to 1,390.68, lowering its year-to-date gain to 19.1%.
Additional subscription price increases are expected in 2024, said CEO Denis Ladegaillerie.
The Billboard Global Music Index dropped 1.5% to 1,355.65 this week, bringing its year-to-date gain to 16.1%.
Artificial intelligence "will rapidly be available to elevate the quality of the music," said CEO Denis Ladegaillerie while delivering midyear earnings.
