Warner Music Group declines to bid for Believe, pursuing a consortium offer valuing the company at 1.52 billion euros.

Warner Music Group (WMG) has decided against submitting a bid to acquire French digital music company Believe. Believe's board of directors had previously backed an offer from a consortium of EQT, TCV, and Denis Ladegaillerie, which valued the company at approximately 1.52 billion euros. Believe's Ad-Hoc Committee will now review the situation with interested parties to decide on next steps regarding the company's control.