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Warner Music owner buys stake in Deezer

Tim Ingham
Deezer

Warner Music Group owner Len Blavatnik has purchased a small stake in Spotify rival Deezer.

According to the New York Post, billionaire Blavatnik is now expected to push for Deezer to be expanded into the US.

Currently, the service is available in over 100 countires including the UK and France, where it is the market leader.

However, Deezer has so far resisted the challenge of going head-to-head with the likes of Spotify and RDio in the US.
 
Deezer posted $60 million in revenue in 2011, up from $17 million the year before.

Telecoms company Orange owns an 11 percent stake in Deezer - with the music streaming service appearing as a bonus addition to some of its tariff in the UK.

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Tags: Warner Music, WMG, Deezer, Len Blavatnik, Warner Music Group

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