Blavatnik Agrees to Buy Warner Music for $8.25 a Share

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May 6 (Bloomberg) -- Warner Music Group former director Len Blavatnik has agreed to buy the record company in a transaction valued at about $3.3 billion. Blavatnik’s Access Industries Holdings will pay $8.25 a share, the companies said in a statement today. The sale of New York-based Warner comes after a three-month auction whose finalists included private-equity brothers Tom and Alex Gores and Sony/ATV Music Publishing. Bloomberg's Cristina Alesci discusses the transaction on Bloomberg Television's "InBusiness With Margaret Brennan." (Source: Bloomberg)

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