Universal Music Group Completes Sale Of Parlophone Label Group

        Universal Music Group Completes Sale Of Parlophone Label Group

PR Newswire

SANTA MONICA, Calif., July 1, 2013

SANTA MONICA, Calif., July 1, 2013 /PRNewswire/ -- Universal Music Group
(UMG), the world's leading music company, today announced that it has
completed its previously announced sale of Parlophone Label Group (PLG) to
Warner Music Group for £487 million.

"We are very pleased to complete this transaction – another great step forward
positioning Universal Music to fully capitalize on music's many new and
exciting opportunities," said Lucian Grainge, Chairman & CEO of UMG. "Over
the course of the past year, we successfully acquired the recorded music
assets of the legendary British music company EMI, revitalized its iconic
Capitol Records and Virgin Records and further strengthened UMG's position as
the global leader in music. Now, given PLG's strong valuation, the
transaction's proceeds provide us significant resources for our global
reinvestment program rebuilding EMI, preserving its heritage and helping all
of UMG lead the industry's digital transformation – and even better able to
serve artists, songwriters and business partners, while offering fans more
choice."

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 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: Will Tanous, Will.Tanous@umusic.com, 310-865-5362, or Caryn
Tomlinson, Caryn.Tomlinson@umusic.com, +44-20-7471-5665
 
Press spacebar to pause and continue. Press esc to stop.