Universal Music Group (UMG) To Sell Parlophone Label Group (PLG) To Warner Music Group

  Universal Music Group (UMG) To Sell Parlophone Label Group (PLG) To Warner
                                 Music Group


PR Newswire

SANTA MONICA, Calif., Feb. 7, 2013

SANTA MONICA, Calif., Feb. 7, 2013 /PRNewswire/ -- Universal Music Group
(UMG), the world's leading music company, today announced that it has entered
into a definitive agreement to sell Parlophone Label Group (PLG) to Warner
Music Group for £487 million. This sale follows the approval of UMG's
acquisition of EMI Recorded Music by the European Commission in September
2012. The closing of the Parlophone transaction is expected to occur later
this year, following employee consultations in certain jurisdictions and
subject to various regulatory approvals. Additional financial terms were not

"Following this transaction, we will continue with our global reinvestment
program that is rebuilding EMI and ensuring that the company is able to reach
its full potential," stated Lucian Grainge, Chairman & CEO of UMG. "And we're
satisfied that our agreement with Warner Music will provide a home for PLG

The Parlophone Label Group is comprised of the Parlophone and Chrysalis
labels, as well as EMI recorded music operations in Belgium, Czech Republic,
Denmark, France, Norway, Portugal, Spain, Slovakia and Sweden. PLG's artists
include Air, Coldplay, Daft Punk, Danger Mouse, David Guetta and Iron Maiden,
among many others.

Following its successful purchase of the company last year, UMG acquired such
iconic EMI labels and domestic operations as Virgin, Capitol, Blue Note,
Christian Music Group, Capitol Nashville, Canada, Australia, Italy, Holland,
Germany, Switzerland, Austria, Japan and Latin America and South Africa, among
others. Artists include such chart-topping superstars as The Beatles, Katy
Perry, Emeli Sande, Robbie Williams, Swedish House Mafia, The Beach Boys, Lady
Antebellum, Herbert Gronemeyer, Norah Jones, Tiziano Ferro, Hikaru Utada,
Vasco Rossi, Helene Fischer, Smashing Pumpkins, 30 Seconds to Mars, Yumi
Matsutoya, Keith Urban, Frank Sinatra, Empire of The Sun and Corinne Bailey
Rae, among many others.

UMG and Vivendi were advised by Goldman Sachs and Bank of America Merrill
Lynch on financial matters, and SJ Berwin, Shearman & Sterling and Smiths Law
on legal matters.

About Universal Music Group

Universal Music Group is the global music leader, with wholly owned operations
in 60 territories. Its businesses also include Universal Music Publishing
Group, one of the industry's premier music publishing operations worldwide.

Universal Music Group's record labels include A&M/Octone, Angel, Astralwerks,
Blue Note, Capitol Records, Decca, Def Jam Recordings, Deutsche Grammophon,
Disa, Emarcy, Fonovisa, Geffen Records, Interscope Records, I.R.S., Island
Records, Lost Highway Records, Machete Music, Manhattan, MCA Nashville,
Mercury Nashville, Mercury Records, Motown Records, Polydor Records, Republic
Records, Universal Music Latino, Verve Music Group and Virgin Records, as well
as a multitude of record labels owned or distributed by its record company
subsidiaries around the world. The Universal Music Group owns the most
extensive catalogue of music in the industry, which includes the last 100
years of the world's most popular artists and their recordings. UMG's
catalogue is marketed through two distinct divisions, Universal Music
Enterprises (in the U.S.) and Universal Strategic Marketing (outside the
U.S.). Universal Music Group also includes Global Digital Business, its new
media and technologies division and Bravado, its merchandising company.

Universal Music Group is a fully owned subsidiary of Vivendi.

SOURCE Universal Music Group

Contact: Peter LoFrumento, peter.lofrumento@umusic.com, or Maria Ho-Burge,
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