Sean Parker might be part of a consortium bidding to purchase Warner Music Group. If he wins, the founder of Napster might get some sweet revenge on the fools (at least from his perspective) who sued music-sharing pioneer Napster and put it out of business, at least in its original form.
Parker is a dynamic character in Silicon Valley, so much so that he was played by Justin Timberlake in the Oscar-winning The Social Network film, based on the Ben Mezrich book &''The Accidental Billionaires.&''
AllThingsDigital is reporting that Parker is considering putting his money into a consortium to buy Warner Music Group. He is not yet part of the formal bid, but‚ is aligned with a group led by investors Ron Burkle and Doug Teitelbaum. Warner&'s owners are expecting to get $2.5 billion or more for the company.
Parker disrupted the music industry while at Napster, which was a free music-sharing site that helped destroy the CD business. Parker co-founded Napster in 1999, went on to address book startup Plaxo, and guided Facebook in its early days. That latter job gave him a stake in Facebook that is now worth a ton of money. Forbes estimates his net worth is $1.6 billion.
Parker is an advisor and investor in Spotify, the streaming music service which has 7 million active users in Europe. But it hasn&'t launched in the U.S. yet because it hasn&'t cut deals with two big music labels, Universal Music Group and Warner. By buying Warner, Parker could solve one of his problems.
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Companies: Facebook, Napster, Plaxo, spotify, Universal Music Group, warner music group
People: Sean parker
Companies: Facebook, Napster, Plaxo, spotify, Universal Music Group, warner music group
People: Sean parker
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.
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