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Warner Music Bought by Len Blavatnik's Access Industries in $3.3 Billion Deal

7:29 AM PDT 5/6/2011 by Georg Szalai

Blavatnik, who previously bid for MGM, was already an investor in the third-largest music company and is a former board member.

NEW YORK - Billionaire Len Blavatnik's Access Industries, which was previously unsuccessful in the bidding for MGM, has won the auction for Warner Music Group with a $3.3 billion deal that the companies announced on Friday.

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