Warner Music Group Buys Parlophone Records
Warner Music Group has bought Parlophone Records for $765.1 million. BBC News reports that Universal has sold the label to Warners, a bit of fallout from Universal’s purchase of EMI last September. UMG had to sell some of EMI’s assets in order to quell concerns about competition.
Parlophone is home to artists like Blur, Coldplay and Pink Floyd. Not included in the deal is the Beatles catalog, which was part of the Parlophone library.