May 6, 2011. As an update to the following blog, All Access has reported that Warner Music Group has accepted the purchase offer of Len Blavatnik's Access Industries.
Original Blog Post. If you have been following the fate of the major labels you know that both Warner Music Group and EMI are up for sale. Yesterday the NY Post reported that WMG is likely to be purchased by one of two bidders. The first is Len Blavatnik’s Access Industries. Music Row reports that Blavatnik, a 2% owner of WMG, has close ties to Warner CEO Edgar Bronfman.
The other potential purchaser are brothers Alec and Tom Gores. Sam Gores, brother of Alec and Tom, is currently Chairman of the Paradigm Agency.
Both suitors have reportedly bid around $3 billion for the company. Sounds to me like somebody believes there is still a place for major labels.
Copyright © 2011 C. Stephen Weaver
No offense, but if there's a facebook like button, it'll be much easier for me to share.
Posted by: elliptical reviews | November 30, 2011 at 12:34 AM
No offense taken. I appreciate your pointing this out and I will add the FB like button. Steve
Posted by: Steve Weaver | November 30, 2011 at 08:13 AM
By now, everybody probably knows that Access Industries purchased Warner Music Group. Just an update.
Posted by: Steve Weaver | November 30, 2011 at 08:16 AM