Warner Music Group Puts Up $765M For Parlophone Label

Law360, Los Angeles (February 7, 2013, 4:12 PM EST) -- Warner Music Group Corp. has signed a definitive agreement to acquire the Parlophone Label Group from Universal Music Group, a subsidiary of Vivendi, for £487 million (US$765 million) in an all-cash transaction, Warner Music Group announced Thursday.

The deal comes after the Parlophone label, which includes artists like Coldplay, Daft Punk and Iron Maiden, was acquired by French media and telecommunications conglomerate Vivendi's Universal Music Group as part of its $1.9 billion deal to purchase EMI’s recorded music business late last year.

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