Naive attracts interest from music majors and investment funds
Naive of France, the independent music publisher, has attracted interest from music majors and investment funds alike, French daily Les Echos reported. The report cited Founder Patrick Zelnik as confirming that the company was listening to all of the expressions of interest, adding that independency was also an option for the business.
According to the report, potential buyers include Warner, Sony and Bertelsmann’s BMG. Industry leader Universal is not among the bidders because of competition issues. The report added that the outcome could be finalised within the next few weeks.
Naïve, which is experiencing difficulties, is 77% owned by Patrick Zelnik. The company reported sales of EUR 15m in 2014 and was not profitable.
Les Echos