Sean Parker Looking to Buy Warner Music Group
Ten years ago, Metallica sued a 20 year-old Sean Parker for all he was worth. Parker is now a billionaire, and in talks of buying Metallica’s record label.
Sean Parker, not Mark Zuckerberg, was the break-out star of this fall’s “The Social Network.” It shouldn’t be a surprise either, because that’s the Justin Timberlake effect. All of the sudden the real Parker became face of nerd cool.
The once reclusive Parker quickly became a hot commodity of public interest, appearing everywhere from profile pieces in Vanity Fair and Business Insider to video interviews with The Daily Beast.
Everyone knows Parker’s story: Boy genius helps create Napster, brings music to the people, and effectively changes the industry forever. You know, typical high school stuff.
It was a wonderful world of free music, until Lars Ulrich, the outspoken drummer for Metallica, realized that the zeros in his bank account weren’t increasing at their usual pace. So Ulrich sued Napster, Parker and everyone who downloaded “Enter Sandman.”
Napster was eventually shut down and Parker claims to have gone broke after being financially drained from music industry lawsuits. Napster may not have been a success, but it successfully forced the music industry to evolve into the completely digital format we have today.
Eventually the charismatic broke genius stumbled upon Facebook, and helped the uncharismatic genius, Zuckerberg, evolve the company into the multi-billion-dollar corporation it is today.
Parker’s mere three percent ownership of the social media giant helped him recently gain membership to the billionaire boy’s club.
If we are to believe Aaron Sorkin’s Oscar winning script from “The Social Network,” Parker is a vengeful soul with quite the chip on his shoulder. In the film, Timberlake’s character is always looking for the opportunity to say, “fuck you.”
Well, according to Howard Wyman from CRAWDADDY! Magazine, Sean Parker is in talks with investors, which include billionaire Ron Burkle, to purchase Warner Music Group, a label that includes none other than Lars Ulrich’s Metallica.
The legendary metal band has technically fulfilled their contract with Warner with the completion of their last record, “Death Magnetic.” But as Wyman points out, even though they have fulfilled their contract Metallica has not yet left the label, and the purchase would give Parker control of Warner’s entire catalog.
The purchase of WMG is expected to be in the ballpark of $2.5 billion, but something tells me that Parker’s ability to tell Ulrich “I’m CEO, Bitch,” is quite priceless.
[Picture via Vanity Fair]