Warner Bros. Discovery is exploring a sale for its music assets that could be worth upwards of $1 billion in a deal being shopped by Allen Grubman. Universal Music Group (UMG) already administers the publishing assets, which are likely the largest part of the deal, and Warner Music Group (WMG) distributes WaterTower Music, Warner Bros. Discovery’s in-house record label.
Source: Warner Bros. Discovery Exploring Sale of Music Assets