Warner finally sold for $3.3 billion
News: 10th May 2011 by Louise Dodgson under Music Publishing, Record Labels
.jpg "Source: http://www.flickr.com/photos/chop/200841812/sizes/z/in/photostream/")
So, Warner Music and all its debts have been handed over to the custody of Len Blavatnik, a Russian billionaire and apparently a friend of Warner boss Edgar Bronfman. This is not the first time in recent years a billionaire has stepped in to 'play record label' so let's hope Len doesn't have as much trouble as Guy Hands and the EMI debacle.
Home to the likes of Fleetwood Mac, Led Zeppelin, Red Hot Chilli Peppers, Pendulum...and erm Paris Hilton, it seems that internal workings and staffing of the major label will be mostly unaffected by the sale. But as the final of the publicly-owned record labels it is now believed that Warner's shift to a private company could have a wider effect on the transparency of financial operations in the music industry. Below are a selection of articles about the sale of Warner Music to keep you on the ball...
Related Links
http://www.guardian.co.uk/business/2011/may/06/warner-music-len-blavatnik
http://blogs.wsj.com/deals/2011/05/06/worlds-newest-music-mogul-who-is-len-blavatnik/
Tags
warner music, access industries, major label, record label, record company, len blavatnik
