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WMG Shareholders OK Merger

WMG GETS ALL ACCESS PASS: Warner Music Group stockholders voted to approve the previously announced merger agreement with Len Blavatnik’s Access Industries. Under terms of the reported $3.3 billion deal, company stockholders will receive $8.25 per share in cash at the closing of the transaction between WMG and Access Industries affiliates Airplanes Music LLC and Airplanes Merger Sub, Inc. Stockholders representing 137,738,124 shares of outstanding WMG common stock also approved “golden parachute” compensation, while holders of 7,755,049 shares voted against the payouts to top Warner execs, including Edgar Bronfman and Lyor Cohen. Now Blavatnik and company can set their sights on EMI Music. (7/6p)

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