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EU: Warner Music locks down Parlophone buyout

 |  May 15, 2013

The European Commission has officially given its approval for music giant Warner Music to buy Parlophone Label Group. The deal, made for more than $740 million, will transfer Parlophone to Warner from its current owner Universal Music Group, the current leader of the world’s music labels. Universal had previously agreed to divest Parlophone as part of its agreement to buy EMI’s music recording branches for $1.9 billion. Current artists on Universal include Coldplay and Daft Punk.

Full Content: Dawn.com

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