UMG Acquires V2 Music Group
August 10, 2007 at 1:31 PM (PT)
The UNIVERSAL MUSIC GROUP has announced that it plans on acquiring V2 MUSIC GROUP, which includes V2 RECORDS. Terms were not disclosed; the agreement is subject to regulatory approval.
"V2 is recognized as a pioneer in independent music with a diverse artist roster that spans many musical genres," UMG INTERNATIONAL Chair.CEO LUCIAN GRAINGE stated. "As such, V2’s roster will complement our existing business. By applying our expertise in artist development and in the digital space, we'll be able to maximize and enhance the opportunities for its artists even further."
V2 is home to artists such as STEREOPHONICS, PAUL WELLER, ANAIS, ISABELLE BOULAY and HENRI SALVADOR. The V2 MUSIC GROUP also owns and operates CO-OPERATIVE MUSIC, its in-house licensing organization that includes independent labels such as BELLA UNION, CITY SLANG and WICHITA RECORDINGS, and artists such as BLOC PARTY, PETER BJORN AND JOHN, and GO TEAM!