Universal, EMI Merger Creates Largest Mideast Group
February 24, 2014 at 4:35 PM (PT)
UNIVERSAL MUSIC MENA’s acquisition of EMI MUSIC ARABIA had created the largest record label in the region, ARABIAN BUSINESS.COM reports. Combining the WARNER MUSIC, DISNEY MUSIC and VIRGIN/CAPITOL RECORDS catalogues together, the new label now accounts for 75% of the international market share in music sales in the region.
“A major step in the region is our acquisition of EMI ARABIA and its catalogue," UNIVERSAL MUSIC MENA Managing Dir. PATRICK BOULOS said. "This is one of the most valuable assets and repertoire in the region and we look forward to initiate more contributions towards the local music scene, through potential licensing deals and expectantly signing established Arab stars as well as upcoming new talents." .