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# Warners/Access Pulls Out Of EMI Auction
- URL: https://www.hypebot.com/warnersaccess-pulls-out-of-emi-auction/
- Published: 2011-10-31T08:46:13.000Z
- Updated: 2011-10-31T08:46:13.000Z
- Description: Len Blavatnik, whose Access Industries bought Warner Music Group earlier this year, has pulled his $1.5 billion bid for the recorded music division of EMI, according to The Financial Times.. Continue reading [https://www.hypebot.com/hypebot/2011/10/warnersaccess-pulls-out-of-emi-auction.html]
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 10:55

[![image from www.google.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e20162fc0a28fc970d-120wi "image from www.google.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e20162fc0a28fc970d-popup?ref=hypebot.com)

Len Blavatnik, whose Access Industries bought Warner Music Group earlier this year, has pulled his $1.5 billion bid for the recorded music division of EMI, according to [The Financial Times](http://www.ft.com/cms/s/0/d4934f6c-032d-11e1-899a-00144feabdc0.html?ref=hypebot.com#axzz1cMVQ6k4T). Vivendi Universal reportedly dropped out last week leaving seller Citigroup hoping that both moves were just high stakes negotiating ploys.

**Publishing Sale Update**

  
Negotiations for EMI's profitable publishing division appear to be going better with a joint venture between Bertelsmann and Kohlberg Kravis Roberts making an $2 billion offer. A final financing package involving equity funds is rumored to be the only obstacle to closing that sale.

**What's Next?**

Insiders don't rule out Blavatnik returning to the table, as he did after a similar threat three weeks ago. Citi is also said to be considering a delay in the sale in hopes that an improved economy could bring a higher price.