Warner Music Group Acquires Universal Music Group’s Parlophone Label Group

Warner Music Group has completed its acquisition of Universal Music Group‘s (UMG) Parlophone Label Group (PLG) for about $742.1 million in US dollars.

Chairman/CEO of UMG Lucian Grainge said, “We are very pleased to complete this transaction – another great step forward positioning Universal Music to fully capitalize on music’s many new and exciting opportunities.”

Last year, UMG successfully purchased EMI labels and domestic operations, such as Capitol, Blue Note, and Virgin, representing artists like Swedish House Mafia, The Beach Boys, Katy Perry, and The Beatles, among many others. However, as a part of the deal in acquiring EMI, European regulators forced UMG to divest a portion (sub labels, publishing sectors, etc…) of their company.