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Digital
Warner owner buys into Deezer
By CMU Editorial | Published on Tuesday 7 August 2012
The owner of the Warner Music Group, Len Blavatnik’s Access Industries, has bought a stake in streaming music service Deezer, according to the New York Post. It’s not known how big a stake, though it’s thought to be relatively small, and has been bought by Access directly, not via its Warner music business.
The Post reckons that the New York based conglom might put pressure on the European digital firm to fast-track a US launch, though it’s thought that Deezer management want to hold off entering the particularly competitive American market for the time being, concentrating instead on becoming more established in most other territories (more countries than exist, if one infamous press release is to be believed).
It’s not the first digital company Blavatnik has invested in this year, and as a small investment via a different part of his business, the deal is unlikely to have any impact on Warner Music, which already licences Deezer anyway.