Group Headed By Simon Fuller Eyeing Parlophone
November 19, 2012 at 3:52 AM (PT)
The fallout from the sale of EMI MUSIC to UNIVERSAL MUSIC GROUP continues, with the future of PARLOPHONE in the balance. BRITIAN's SKY NEWS reports "a relative of the former chairman of WARNER MUSIC GROUP is forming a duet with SIMON FULLER, the music industry impresario, in an attempt to wrest control of some of the most prominent record labels in the world."
The report has former WMG Chairman EDGAR BRONFMAN's cousin, STEPHEN BRONFMAN partnering with FULLER to make a bid for PARLOPHONE. STEPHEN BRONFMAN heads private equity firm CLARIDGE INC.
But FULLER's desire to acquire record labels doesn't stop with PARLOPHONE. SKY NEWS notes, "FULLER is assembling a heavyweight lineup of financial investors in an effort to secure PARLOPHONE, MUTE, SANCTUARY and a series of other labels. BLACKWELL FULLER, which he founded with CHRIS BLACKWELL, who established ISLAND RECORDS, is also in discussions with CJ E&M, the entertainment and media arm of CJ GROUP, a major SOUTH KOREAN conglomerate."
Other suitors for PARLOPHONE reportedly include BMG and SONY MUSIC.