Peter Kafka

Recent Posts by Peter Kafka

Is Warner Music a Buyer or a Seller? Goldman Sachs Says "Yes!"

Warner Music Group has hired Goldman Sachs to find a buyer for all or a portion of the music company, reports the New York Times. Warner Music Group has also hired Goldman Sachs to help it buy all or a portion of longtime rival EMI Music Group, the Times reports. The Times politely calls this an “unusual two-track process,” but it makes perfect sense for Goldman, which gets paid no matter what.

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald