Feeds

Russian tycoon buys Warner Music

Len Blavatnik shells out $3.3bn for the music group

  • alert
  • submit to reddit

SANS - Survey on application security programs

Warner Music has been sold to US businessman Len Blavatnik, according to credible reports, in a $3.3bn deal. The company's $1.9bn debt is also transferred to its new owner, valuing Warner at $1.3bn.

Blavatnik's Access Industries paid 34 per cent over the market price for the music group. The Russian-born tycoon, who also owns Top Up TV, is said to be looking to acquire EMI – which would give him the third and fourth largest major labels.

It's a minor surprise, given that rivals Universal and Sony were thought to have a head start in the auction for Warner. EMI had a short and unhappy period in the hands of an equity investor for years. Warner had tried hard to buy EMI before Terra Firma acquired it in 2007.

Having made his fortune in property and the former Russian nationalised industries, Blavatnik has faith that content companies are where future growth will be; he tried to buy MGM Studios last year. This is not a fashionable view. But smaller operators, without the bureaucracy and overheads of large companies, have prospered.

Blavatnik's family emigrated to the US in 1978, and he now lives in London and New York. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.