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US/EU: Warner Music buys Parlophone’s businesses across Europe

By  |  February 7, 2013
US/EU: Warner Music buys Parlophone’s businesses across Europe

Warner Music Group has announced the company reached an agreement to buy Parlophone Label Group for $765 million. Parlophone will be bought from Universal Music Group and was previously part of EMI Music. The company includes operations that run throughout Europe and its artist roster includes Coldplay and Deep Purple. According to reports, Warner will be financing the transaction through loans provided by various banks including UBS and Barclays. Various antitrust authorities in Europe will need to approve of the merger, but the parties involve expect the transaction to be complete by the middle of 2013.

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