Yesterday Russian billionaire Len Blavatnik's Access Industries bought Warner Music Group for the tidy sum of $3.3 billion.

Warner's massive label includes Asylum, Warner Brothers, Elektra, and Atlantic. Acts include Cher, T.I., Gucce Mane, Green Day, Linkin Park, Red Hot Chili Peppers, and many more big names in the music business.

The purchase means Access acquired Warner Brothers' entire catalog of music, and will also take control of their publishing business, Warner/Chapell Music.

"I am excited to extend my long standing involvement with Warner Music. It is a great company with a strong heritage and home to many exceptional artists. I look forward to working closely with the many talented people within the company," Blavatnik said.

Sources have reported that Blavatnik now has his sights set on mega label EMI for his next conquest. Purchasing this label would give him the full catalog of the Beatles, Pink Floyd, and Radiohead, to name a few.