Warner Music Group (WMG) has officially declined to acquire Believe, following careful consideration of the potential acquisition. The decision was announced in a press release on April 6th.

The announcement ends a multi-week acquisition process that positioned Warner against a consortium led by Believe's CEO and founder Denis Ladegaillerie, along with EQT and TCV. The consortium had previously offered €15 per share, valuing Believe at approximately $1.6 billion USD.

Believe's Ad-Hoc Committee acknowledged WMG's decision and stated they would review the situation with all interested parties, including the original consortium and historical shareholders, to determine the next steps regarding the company's control.

Earlier this year, Ladegaillerie's consortium had secured agreements to acquire a 71.92% stake through Block Acquisitions. Warner's potential acquisition faced significant opposition, particularly from independent music sector organizations like the French Union of Independent Phonographic Producers (UPFI) and the Association of Independent Musicians (AIM), who expressed concerns about competition and investment in new talent.

Believe's current position:

• Global presence in over 50 countries
• Comprehensive services for independent artists and labels
• Focus on digital distribution and streaming platforms
• Technology-driven operations
• Additional services including marketing, promotion, and funding
• Emphasis on artist independence and control

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

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