Warner Music Group Corp. on Wednesday said that affiliates of Access Industries Inc. had completed its previously announced acquisition of the company in an all-cash deal valued at $3.3 billion.

The affiliates, Airplanes Music LLC and Airplanes Merger Sub Inc., paid shareholders $8.25 per share in cash for Warner Music’s recorded music library and music publishing businesses. Warner is considered the world’s third-largest recording company.

Warner Music’s stock will no longer be traded on the New York Stock Exchange. The company, headquartered in New York City, said it would retain the Warner Music Group name and continue operating out of current facilities in Burbank and Santa Monica.

Access Industries of New York was founded and is headed by Russian-born billionaire Len Blavatnik, who has interests in natural resources and chemicals, media and telecommunications, and real estate. Blavatnik is a former Warner Music director who was part of the group led by current Chief Executive Edgar Bronfman Jr. that purchased the company from Time Warner Inc. in 2004 for $2.6 billion.