EMI’s Profit Rises 7% to 330 Million Pounds, Sunday Times Says

EMI Group Ltd., the music company that Citigroup Inc., its owner, plans to sell this summer, increased annual profit last year by 7 percent to 330 million pounds ($535 million), the Sunday Times reported.

Len Blavatnik, the billionaire businessman whose Access Industries Holdings LLC agreed on May 6 to buy Warner Music Group, is the favorite among candidates to purchase London-based EMI for an estimated 3.5 billion pounds, the newspaper said, without citing anyone.