Warner Music Group Completes Acquisition Of Parlophone Label Group
July 1, 2013 at 8:52 AM (PT)
WARNER MUSIC GROUP has completed its acquisition of PARLOPHONE LABEL GROUP from UNIVERSAL MUSIC GROUP. The deal was first announced in FEBRUARY (NET NEWS 2/7).
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.
WEA parent company ACCESS INDUSTRIES Chairman/Founder LEN BLAVATNIK 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."
WMG CEO STEPHEN COOPER added, "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."