Warner Music Group has decided not to pursue the acquisition of Believe, as confirmed in a statement released on April 6th. The announcement ends weeks of speculation about a potential takeover that had sparked considerable debate within the music industry.

The decision leaves the field open for the original consortium led by Believe's CEO and founder Denis Ladegaillerie, along with EQT and TCV, who had previously offered €15 per share, valuing the company at approximately $1.6 billion USD.

Warner Music Group's interest had initially caused significant concern within the independent music sector. Both the French Union of Independent Phonographic Producers (UPFI) and the Association of Independent Musicians (AIM) had expressed strong opposition, fearing negative impacts on competition and investment in emerging artists.

Believe's Ad-Hoc Committee acknowledged Warner's withdrawal and stated they would review the situation with all interested parties, including the Ladegaillerie consortium and historical shareholders, to determine the next steps regarding the company's future.

Current Status:

• Believe shares (BLV on Euronext Paris) trading at €16.50
• Year-to-date increase of nearly 60%
• Company maintains presence in over 50 countries

About Believe: Believe serves as a global partner for independent artists and labels, offering:

• Digital distribution across major streaming platforms
• Label & Artist Solutions (marketing, promotion, funding)
• Premium Solutions for established artists
• Technology-driven operations
• Focus on artist independence and control

The consortium's original plan to acquire a 71.92% stake through Block Acquisitions may now proceed following Warner's withdrawal.

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