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Universal Music Group (UMG) Begins Expansion Of EMI With Appointment Of Steve Barnett To Chairman & CEO Of Capitol Music Group

Universal Music Group (UMG) Begins Expansion Of EMI With Appointment Of Steve
               Barnett To Chairman & CEO Of Capitol Music Group

PR Newswire

LOS ANGELES, Nov. 26, 2012

LOS ANGELES, Nov. 26, 2012 /PRNewswire/ -- In a move which underscores its
commitment to expanding the marketplace for new music, Universal Music Group
(UMG), the world's leading music company, has begun the revitalization of EMI
Recorded Music with the appointment of Steve Barnett to Chairman & CEO of its
Capitol Music Group. The announcement was made today by Lucian Grainge,
Chairman & CEO of UMG, and to whom Mr. Barnett reports.

Based in Los Angeles, CA, at the iconic Capitol Records Tower, Mr. Barnett
will be responsible for the overall management of the company which includes
Capitol Records, Virgin Records, Blue Note, Astralwerks, Harvest, Capitol
Christian Music Group, Caroline and the Capitol Studios.

The Capitol Music Group features such superstar artists as Katy Perry, 30
Seconds To Mars, The Beatles, Norah Jones, Aaron Neville, Alice in Chains, A
Fine Frenzy, Ryan Adams,Amos Lee, The Decemberists, Joe Lavano,Rosanne Cash,
Anita Baker, Van Morrison, Bob Seger, Beach Boys and Emeli Sande (for the US),
among many others.

"As we begin to invest in and revitalize EMI globally, the Capitol Music
Group, including Virgin, will play a central role in ourcreative and
commercial initiatives. And there is no one better to spearhead thisthan
Steve," stated Mr. Grainge. "His entrepreneurial approach and intuitive
ability to build, strengthen and transform artists into powerful global brands
has resulted in remarkable success. I'm confident that under his leadership,
a new and reinvigorated Capitol will provide the kind of environment needed
for artists to develop, resulting in more opportunity than ever before."

"Throughout my career in music, I've always been keenly aware of EMI's impact
on the world's culture, so I could not be more excited and grateful for the
opportunity Lucian has given me to build the Capitol Music Group into an
exceptional record company," added Mr. Barnett. "I greatly appreciate his
confidence in me, and I will work tirelessly to create a welcoming and
supportive home for great artists while carefully tending the hugely important
catalogue that defines theCapitol legacy."

"It was not an easy decision to leave such a successful company as Columbia,
with its incredibly talented artists and the team of people who work so hard
on their behalf," continued Mr. Barnett. "However, I know that the label is
in great hands and I wish them all the best in the future as I move on to my
new company home."

The appointment of Mr. Barnett is among the first of many steps that will be
taken by UMG to expand EMI's creative ranks, reinvest in new talent, enhance
innovation and create more diversity and choice for consumers.

Most recently, Mr. Barnett was Co-Chairman & COO of Columbia Records. The
company's market share rose consistently throughout his tenure, resulting in a
50% increase in current market share (27% overall) between 2009 and 2012.

While at Columbia as Co-Chairman & COO, Mr. Barnett presided over highly
successful campaigns for some of music's most important developing and
established artists, including Adele, Beyonce, John Mayer, Jack White, The
Shins, One Direction, Maxwell, Foster The People, J. Cole and Britain's Got
Talent superstar Susan Boyle.

Mr. Barnett first joined Sony Music's Epic Records in 1996 as Senior Vice
President, International, rising to Senior Vice President Worldwide Marketing
for the label in 1997. He served as Executive Vice President/ General Manager
for four years after that, rising to label President in 2004. He was appointed
Co-Chairman and COO of Columbia in 2005.

SOURCE Universal Music Group

Contact: Peter LoFrumento, Universal Music Group, 212.331.2585,
peter.lofrumento@umusic.com, Larry Jenkins, LJ Entertainment, 310.820.1199,
jenkins@ljentertainment.commailto:jenkins@ljentertainment.com
 
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