According to a post just showing up on The Register says that Warner Music has been bought for a price of $3.3 billion.

The man behind the surprise deal is  U.S. businesses man Len Blavatnik who through his Access Industries also owns Top Up TV and saw him paying 34 percent over the market price for Warner Music.

t’s a minor surprise, given that rivals Universal and Sony were thought to have a head start in the auction for Warner. EMI had a short and unhappy period in the hands of an equity investor for years. Warner had tried hard to buy EMI before Terra Firma acquired it in 2007.

Having made his fortune in property and the former Russian nationalised industries, Blavatnik has faith that content companies are where future growth will be; he tried to buy MGM Studios last year.

 

Russian born businessman snaps up Warner Music is a post from: The Inquisitr

Okay anyone surprised by the news that Warner Music is pulling all it’s videos from YouTube put up your hand…

It’s okay I’ll wait …

Just as I figured – no-one. Of course this doesn’t make one bit of difference regarding the spin being put on the news. Even though the two supposedly worked well into the night Fright there was no agreement reached that could satisfy both Warner Music and Google.

The spin coming out of Warner Music this morning went something like this

We are working actively to find a resolution with YouTube that would enable the return of our artists’ content to the site. Until then, we simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide.

Of course the proverbial people close to the deal making are suggesting that the reason everything fell through was because of some last minute changes Warner Music wanted made to the agreement. Not surprisingly Google said no.

While no-one is currently saying what this change was that nixed the deal I think it would be a pretty safe bet that Warner Music wanted more money for nothing – but that is nothing new for an industry hanging on by the skin of its teeth.

Warner Music gets all whiney while pulling out of YouTube is a post from: The Inquisitr