Russian Billionaire To Buy EMI Records

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Russian billionaire Len Blavatnik looks set to buy British record label EMI records forĀ $1.5 billion, reports The Guardian.

The record label, once home to The Beatles, is one of the remaining “Big Four” major record labels, and has spent the last few years shuffling between owners is a sad, sorry state.

Blavatnik is based in New York and is the founder and owner of Access Industries, an international chemicals conglomerate. His offer for EMI looks set to be accepted by owner Citigroup after talks with rival Universal Records broke down. Blavatnik bought another major label, Warner Music, for $3 billion in May of this year.

So, for those keeping count, Russian billionaires now pretty much control the UK’s music industry, publishing industry, and sports industry.

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