Billionaire Len Blavatnik Buys Warner Music Group For $3.3 Billion
Len Blavatnik, music man.
Yesterday FORBES and other news outlets reported that billionaire Len Blavatnik's Access Industries was on the verge of purchasing Warner Music Group. Earlier today the two sides announced the deal: a $3.3 billion all-cash buyout of the world's third-largest music company, whose artists include Green Day, Metallica and Bruno Mars.
Blavatnik's company will pay $8.25 per share for publicly-traded Warner, a 34.4% premium over the stock's six-month average price. The...
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Zack O'Malley Greenburg—a Jay-Z biographer and former Forbes editor—writes on the intersection of music, media and money.
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