Len Blavatnik's Access Industries Reportedly Close to Purchasing Warner Music Group
Date: Thursday, May 05, 2011 @ 10:22:50 UTC

Reports emerged over night that Access Industries led by investor Len Blavatnik is close to buying the Warner Music Group for more than $3 billion dollars. The Warner Music Group board has been meeting this week to consider bids from groups that include Tom and Alec Gore's Platinum Equity/The Gores Group, Sony/ATV Music Publishing, and Ronald O. Perelman's MacAndrews & Forbes. The Wall Street Journal reports that Mr. Blavatnik valued WMG at $3.3 billion dollars. Both Bloomberg News and the New York Times reported the music consortium's board will meet today to decide on the winning bid. Complete Article

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