Warner Music Group (WMG) has officially declined to acquire Believe, according to a statement released on April 6th. The decision comes after several weeks of negotiations and careful consideration by the major label.

The move clears the path for the original acquisition plan by a consortium led by Believe's CEO and founder Denis Ladegaillerie, along with EQT and TCV. This group had previously offered €15 per share (approximately $16.35 USD), valuing Believe at about $1.6 billion USD, with plans to acquire a 71.92% stake through Block Acquisitions.

Warner's potential acquisition had faced significant opposition, particularly from independent music sector organizations:

• The French Union of Independent Phonographic Producers (UPFI)
• The Association of Independent Musicians (AIM)
• Both groups expressed concerns about competition and investment in new talent
• The French Union called for government intervention

Believe's current position:

• Global presence in over 50 countries
• Offers comprehensive services for independent artists and labels
• Focus on digital distribution across streaming platforms
• Provides Label & Artist Solutions including marketing and promotion
• Emphasizes technology-driven operations and artist independence

As of April 6th, Believe SA shares (BLV on Euronext Paris) were trading at €16.50, showing a nearly 60% increase year-to-date.

The Ad-Hoc Committee has acknowledged WMG's decision and will review the situation with all interested parties to determine the next steps regarding the company's future control structure.

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