Len Blavatnik buys Warner Music Group

After it was revealed that the 3rd largest record label, Warner Music Group was up for sale last month, it didn't take very long to close a deal. Russian Oil tycoon, Len Blavatnik has reportedly bought the troubled company for a 3.3 billion dollars cash. That ends up being $8.25 per share, way better than Warner originally expected to do. Some of the companies/people Blavatnik beat out included: Sony Music Group, Ron Burkle, Platinum Equity and Live Nation. Read the full story over at the NYT.