Vivendi finalizes EMI acquisition by UMG with sale of Parlophone
Paris, 7 February 2013
Vivendi finalizes EMI acquisition by UMG
with sale of Parlophone
Vivendi and its subsidiary Universal Music Group (UMG) today announced a definitive agreement to sell Parlophone Label Group, a unit of EMI Recorded Music, to Warner Music Group for £487 million (around €570 million) in cash. The sale represents the main part of the application of the regulatory undertakings to the European Commission agreed on September 21, 2012, within the conditions it set forth.
The acquisition of EMI Recorded Music reinforces UMG’s position as the world’s largest major with a market share of some 30 per cent today. As a result, UMG enlarges its presence in some sixty countries, particularly in the three main international music markets: United States, Japan and Germany. It also strengthens its availability on all digital platforms.
More than ever, UMG remains true to its vision to invest in talent, with a number of artists including Lady Gaga, Justin Bieber, The Beatles, Katy Perry, Lady Antebellum, The Beach Boys, Cecilia Bartoli or Maria Joao Pires. It covers a wide range of genres all over the world, offering consumers more music and choice.
Commenting on the agreement, Jean-François Dubos, Chairman of the Management Board of Vivendi, said: “The acquisition of EMI Recorded Music is a major milestone for Vivendi. It significantly strengthens its ownership of exclusive music content and fosters the development of talent, while continuing to promote cultural diversity.”
Vivendi is at the hearts of the worlds of content, platforms and interactive networks. Vivendi combines the world leader in video games (Activision Blizzard), the world leader in music (Universal Music Group), the French leader in alternative telecoms (SFR), the Moroccan leader in telecoms (Maroc Telecom Group), the leading alternative broadband operator in Brazil (GVT) and the French leader in pay-TV (Canal+ Group). In 2011, Vivendi achieved revenues of €28.8 billion and adjusted net income of €2.95 billion. The Group has over 58,300 employees. www.vivendi.com
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