News You Missed This Weekend: WMG Bids, UMG’s Sylvia Rhone, Playstation Apology & Update
- Final bids for WMG are due today (May2). The investor group that included Ron Burkle and Napster founder Sean Parker has reportedly dropped out of the auction, leaving just two unnamed bidders in the $3 billion range. (NY Post)
- Is Sylvia Rhone leaving Universal? She's got time left on her contract, so it's more likely that a post- Morris UMG will find a new role for the high level executive. (Hollywood Reporter)
- Sony Playstation Network update:
A Sony exec apologized for Playstation Network (which includes Music Unlimited) outage and security breach over the weekend. The company also laid out plans for restoration and user reparations. As of Monday morning, the network was still down and not expected to restored until later in the week.