CMU Daily reports that in the US the Warner Music Group, which has been fairing very badly on the New York Stock Exchange of late with its share price is down 50% since the 1st November last year, may be the target of a takeover bid.

CMU Daily reports that in the US the Warner Music Group, which has been fairing very badly on the New York Stock Exchange of late with its share price is down 50% since the 1st November last year, may be the target of a takeover bid.

The company's current valuation is $738.64 million, which CMU amusingly describe as "pretty depressing considering it was valued at $4 billion a year ago". Possible companies thinking of a takeover apparently include Google, News Corp and Amazon. In the UK, shares in radio giant GCap rocketed yesterday after it confirmed it had received a takeover offer from rival Global Radio, though it added that it had knocked back the offer on the basis the 190p per share offered was a "significant" undervaluation, even though it was more than the 179p the company's share price reached after yesterday's boost.