Russian billionaire Len Blavatnik looks set to buy British record label EMI records for $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.
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