The winning bidder for BMG, the music publishing company owned by Germany's Bertelsmann that is being sold for about €1.2bn ($1.5bn), is expected to be announced this week.

At least five private equity firms are thought to be in the running for the company, which boasts pop stars including Christina Aguilera and Britney Spears on its books. Kohlberg Kravis Roberts has teamed up with EMI, the world's biggest music publisher, while Providence Equity Partners, Bain Capital and Thomas H Lee Partners are backing Warner Music. Chicago buyout firm GTCR Golder Rauner is also bidding, working with Martha Stewart Living Omnimedia chairman Charles Koppelman. Other trade bidders include Universal Music and Viacom. Bertelsmann wants to raise money to buy out its minority shareholder Groupe Bruxelles Lambert and remain a private company. JP Morgan and Citigroup are running the auction.