With the EMI acquisition, Universal will control a third of all music sales; but the real question is what it does with its massive catalog

Len Blavatnik's Access previously bid unsuccessfully for MGM; Blavatnik already a WMG investor

Shifting of label executives and company ownership could throw scores out of work, thin the ranks of the major labels and streamline operations

Will exit exclusive deal with Warner Music Group/Atlantic Records at the end of Sept.