Warner Music Group Completes Acquisition of Parlophone Label Group

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
and Sweden.  
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
talent."  
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.  
"Safe Harbor" Statement under Private Securities Litigation Reform
Act of 1995: This communication includes forward-looking statements
that reflect the current views of Warner Music Group about future
events and financial performance. Words such as "estimates,"
"expects," "anticipates," "projects," "plans," "intends," "believes,"
"forecasts" and variations of such words or similar expressions that
predict or indicate future events or trends, or that do not relate to
historical matters, identify forward-looking statements. All
forward-looking statements are made as of today, and we disclaim any
duty to update such statements. Our expectations, beliefs and
projections are expressed in good faith and we believe there is a
reasonable basis for them. However, we cannot assure you that
management's expectations, beliefs and projections will result or be
achieved. Investors should not rely on forward-looking statements
because they are subject to a variety of risks, uncertainties, and
other factors that could cause actual results to differ materially
from our expectations. Please refer to our Form 10-K, Form 10-Qs and
our other filings with the U.S. Securities and Exchange Commission
concerning factors that could cause actual results to differ
materially from those described in our forward-looking statements.  
We maintain an Internet site at www.wmg.com. We use our website as a
channel of distribution of material company information. Financial
and other material information regarding Warner Music Group is
routinely posted on and accessible at http://investors.wmg.com. In
addition, you may automatically receive email alerts and other
information about Warner Music Group by enrolling your email by
visiting the "email alerts" section at http://investors.wmg.com. Our
website and the information posted on it or connected to it shall not
be deemed to be incorporated by reference into this communication.  
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. 
PRESS CONTACT
Mel Fox
Mel.Fox@warnermusic.com
+44 20 7368 2828 
James Steven
James.Steven@wmg.com
+1-212-275-2213