Sean Parker is reportedly considering a serious bid for Warner Music Group (WMG), one of the record labels that helped lead the charge against his company Napster.
The label is currently in the process of being sold via an auction, with BMG and Sony/ATV named as potential buyers by Bloomberg in February.
Parker, who co-founded the file-sharing network Napster in 1999, was forced to shut down the company in 2001. Rock band Metallica, who are owned by WMG, sued Napster after one of their unreleased singles appeared as a free download.
The entrepreneur became a billionaire after owning a stake in Facebook, and was portrayed in The Social Network by Justin Timberlake. He currently acts as an advisor for music streaming service Spotify.
According to All Things Digital, Parker is connected with investors Ron Burkle and Doug Teitelbaum, and is considering an offer of his fortune to improve their bid. WMG is likely to sell for at least $2.5 billion (£1.6bn).
Reports indicate that there are currently at least five bidders for WMG, and that a decision will likely be made within the next few weeks.