Beats Music LLC, the subscription streaming service from rapper Dr. Dre and record producer Jimmy Iovine, raised a second round of funding from existing investors, said three people with knowledge of the deal.
The leveraged buyout of Lyondell Chemical Co. in 2007 benefited the company’s board as well as billionaire Len Blavatnik, who gained $1.2 billion, according to a revised lawsuit brought by the company’s creditors.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Warner Music Group owner Len Blavatnik withdrew his bid for EMI Group’s recorded music business after failing to agree on a price with owner Citigroup Inc., two people with knowledge of the situation said.
Warner Music Group’s owner, Len Blavatnik, is considering dropping his bid for EMI Group Ltd. because Citigroup Inc. is taking too long to choose a buyer, a person with knowledge of the bidding process said.