Sean Parker Could End Up Owning Part Of Warner Music

Sean Parker

Talk about irony: Napster founder Sean Parker, who helped kick off the digital music revolution that’s sinking the record industry, may soon be a part owner of Warner Music, one of the four major labels.

According to Peter Kafka at AllThingsD, Parker is part of a consortium led by investors Ron Burkle and Doug Teitelbaum that is set to make a bid on Warner, which is putting itself up for sale this year.

Warner is also considering bids from five other investment groups, so it may not happen.

Napster was basically sued out of existence by the record industry, but Parker went on to found address book company Plaxo and become an early investor in Facebook, and still holds about 7% of the company, which is valued around $75 billion on the second market.

Most recently, Parker has been advising European streaming music service Spotify, which is coming close to a U.S. launch, but still needs deals Warner and Universal to have a complete slate of all four major labels.

In the movie The Social Network, Parker’s character was played by Justin Timberlake, who is signed to Jive Records — an imprint of Sony. Not Warner.

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