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Tuesday, February 22, 2011

Meet Len Blavatnik

MEET LEN BLAVATNIK: The reported latest bidder for Warner/Chappell is a Russian-born U.S. billionaire named Leonard Blavatnik, who runs a real estte, resources and media group called Access Industries, which owns about 2% of Warner Music Group. He has a number of media investments, ranging from a television production company in Russia to UK’s Top Up TV. He’s a good pal of Edgar Bronfman who showed interest in backing MGM last year and has also invested in Perform, a sports media rights business expected to seek a stock market listing soon. Blavatnik is said to be chiefly interested in Warner/Chappell, the sale of which could clear the way for Bronfman to make a bid on EMI Music, giving him the publishing company he would’ve just sold. People familiar with the auction process said Blavatnik was leaning toward submitting a first round offer within the next few days. (2/22a)

 
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