May 6, 2011 / 1:39 PM / in 6 years

Blavatnik's Access wins Warner Music bid - source

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NEW YORK, May 6 (Reuters) - Billionaire Len Blavatnik's Access Industries has won the auction to take control of Warner Music Group Corp WMG.N with an offer of $8.25 a share, according to a person familiar with the matter.

The agreement, which is expected to be announced on Friday morning, puts the world's third- largest music company's enterprise value at around $3.3 billion. (Reporting by Yinka Adegoke, editing by Gerald E. McCormick)

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