Yesterday it was announced that Warner Music Group was purchased in an all cash transaction for $3.3 Billion by Russian-born billionaire Len Blavatnik's Access Industries.
Warner is home to Asylum, Warner Brothers, Atlantic and Elektra. With a wide variety of acts like Cher, T.I., Gucce Mane, Green Day, Linkin Park, Red Hot Chili Peppers and many more.
In addition to acquiring WB's entire catalog of music, Access will also take control of their music publishing business, Warner/Chappell Music Publishing.
"I am excited to extend my longstanding involvement with Warner Music. It is a great company with a strong heritage and home to many exceptional artists. I look forward to working closely with the many talented people within the company," Blavatnik said
Rolling Stone is reporting that Blavatnik next has his sights on EMI. He wants to merge the two companies. By doing so he would be acquiring a catalog "including the music of the Beatles, Pink Floyd and Radiohead, and drive down overall costs for the company."
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