Access Industries Holdings LLC has reached an agreement to buy Warner Music Group (NYSE:WMG) in an all-cash deal that values WMG at $3.3 billion, the companies said Friday. The announcement ends a 3-month sale process that involved as many as 10 companies vying for the world's 3rd largest record label. In a statement issued Friday, Warner Music Chairman and Chief Executive Edgar Bronfman Jr. said the deal "serves the best interests of stockholders as well as the best interests of music fans, our recording artists and songwriters, and the wonderful people of this company." Shares of Warner Music are trading up 2.03% at $8.06.