Warner Music and Sony BMG start digital music venture in Russia

Warner Music Group, Sony BMG and the billionaire Len Blavatnik on Thursday announced the creation of a digital music venture in Russia to sell products in one of the world's biggest markets for pirated content.

"The venture, Digital Access, will be based in Moscow and offer "full-track audio downloads, ringtones, ring-back tones, video clips and full color images" in Russia and the former Soviet region, Blavatnik's holding company, Access Industries, said in an e-mailed statement.

Blavatnik, a native Russian with U.S. citizenship, contributed two of the biggest Russian music labels, Soyuz and Nikitin Records, to the venture, which will start operating this autumn, according to the statement."

[via Blooomberg/Reuters/IHT]

emily | 9:35 AM | News, Buzz |
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