Warner Music Group Completes Acquisition of Parlophone Label Group
NEW YORK, NY -- (Marketwired) -- 07/01/13 -- Warner Music Group
Corp. (WMG), an Access Industries company, announced today that it
has completed its acquisition of Parlophone Label Group (PLG) from
Universal Music Group (UMG), a subsidiary of Vivendi.
In addition to the historic Parlophone label, PLG includes the
Chrysalis/Ensign labels in the United Kingdom, EMI Classics and
Virgin Classics and the EMI operating companies in Belgium, Czech
Republic, Denmark, France, Norway, Poland, Portugal, Slovakia, Spain
The transaction brings these important and influential companies
together with WMG's own iconic labels including Atlantic, Asylum, Big
Beat, East West, Elektra, Fueled by Ramen, Nonesuch, Reprise, Rhino,
Roadrunner, Sire, Warner Bros., Warner Music Nashville, Word and
WMG's own network of local affiliates and licensees in over 50
territories worldwide, as well as Warner/Chappell Music, one of the
world's leading music publishers.
Len Blavatnik, Chairman and founder of Access Industries, said, "This
is a defining moment for Warner Music, which is strengthened today by
the addition of PLG's acclaimed roster, renowned catalog and gifted
executives. This acquisition further cements Warner Music's place as
the world's best home for extraordinary artists."
Stephen Cooper, CEO, Warner Music Group, said, "We are delighted to
officially welcome PLG's legendary roster and dynamic team to the
Warner Music family. This acquisition unites two companies synonymous
with incredible music, pioneering labels and artists that have shaped
genres and defined generations. By staying true to our shared values,
leveraging our complementary strengths and investing in growth, we
will build on that remarkable legacy to set new standards in artist
development and drive industry-leading innovation. Above all, this
historic deal will create global opportunities for great music
PLG, formerly a part of EMI Music, includes a broad range of some of
the world's best-known recordings and classic and contemporary
artists spanning a wide array of musical genres. PLG's artist roster
and catalog of recordings includes, among many others, Coldplay,
Tinie Tempah, Eliza Doolittle, Pet Shop Boys, Kylie Minogue, Danger
Mouse, David Guetta, Pablo Alboran, M. Pokora, Raphael, Mariza, David
Bowie, Radiohead, Tina Turner, Iron Maiden, Pink Floyd, Duran Duran,
Jethro Tull, Blur, Kate Bush, Daft Punk, Edith Piaf, Itzhak Perlman
and Maria Callas.
On February 6, 2013, WMG signed a definitive agreement to acquire PLG
from UMG for GBP 487 million in an all-cash transaction.
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About Warner Music Group:
With its broad roster of new stars and
legendary artists, Warner Music Group is home to a collection of the
best-known record labels in the music industry including Asylum,
Atlantic, East West, Elektra, Fueled By Ramen, Nonesuch, Reprise,
Rhino, Roadrunner, Rykodisc, Sire, Warner Bros., Warner Music
Nashville, and Word, as well as Warner/Chappell Music, one of the
world's leading music publishers, with a catalog of more than one
million copyrights worldwide.
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