[78-L] Warners purchases Parlophone

[David Lennick]

I mean the rights.

dl

On 2/7/2013 6:04 PM, Kristjan Saag wrote:
> What Odeon Masters?
> The Odeon factory and offices in Berlin were almost completely destroyed
> on March 18, 1945, by the 8th US Air Force bombs, and what was left was
> plundered by Soviettroupes in April.
> Kristjan
> --
>
>
> On 2013-02-07 23:07, David Lennick wrote:
>> So do they also have Odeon masters and all the Lindstrom stuff? How do they
>> claim Callas and Piaf? dl
>>
>>>
>>> http://www.fmqb.com/article.asp?id=2614516
>>> <http://jazzpromoservices.us2.list-manage.com/track/click?u=3186fe64133adb244b1010be2&id=31924a4319&e=dce4828319>
>>> Warner Music Group Purchases Parlophone
>>> February 7, 2013
>>>
>>> *Warner Music Group* has won the auction to acquire the famous European
>>> *Parlophone Label Group*, as part of *Universal Music Group*'s sell-off of
>>> former *EMI* assets. The /Financial Times/reports that the price tag came in
>>> much higher than expected at £487 million (or roughly $765 million), allowing
>>> UMG to "recoup almost half of the money it spent on EMI." The sale is an
>>> all-cash deal.
>>>
>>> *Len Blavatnik*, Chairman and founder of WMG owner *Access Industries*, said in
>>> a statement, "This is a very important milestone for Warner Music, reflecting
>>> our commitment to artist development by strengthening our worldwide roster,
>>> global footprint and executive talent."
>>>
>>> WMG CEO *Stephen Cooper* said, "Having the Parlophone Label Group become part
>>> of our family represents a unique opportunity for us to join with legendary
>>> record labels and artists that are highly complementary to our existing
>>> organization from a creative, geographic and strategic standpoint. We are
>>> committed to making this a great outcome
>>> for Parlophone's artists and employees, who will find in WMG a similar spirit
>>> and culture that is dedicated to providing the most supportive and innovative
>>> home for recording artists. The continuation of the Parlophone legacy and brand
>>> are central to the future success of this combination, and we are proud to have
>>> them join us."
>>>
>>> In a statement from UMG, Chairman/CEO *Lucian Grainge* adds, "Following this
>>> transaction, we will continue with our global reinvestment program that is
>>> rebuilding EMI and ensuring that the company is able to reach its full
>>> potential. And we're satisfied that our agreement with Warner Music will
>>> provide a home for PLG artists."
>>>
>>> The /Financial Times/ notes that WMG has been beat out multiple times in the
>>> past when bidding on EMI and its assets. Warner's "relatively small market
>>> share" overseas should allow the deal to pass the *European Commission* without
>>> much opposition. The /FT/ adds that "Warner was seen as being able to extract
>>> more savings from the acquisition than other bidders, but its victory will
>>> surprise some industry members who thought that the U.S. group's vocal lobbying
>>> against Universal's EMI deal could count against it in the auction." Sources
>>> also told the paper that WMG's bid was at least $100 million higher than the
>>> other bidders for Parlophone.
>>>
>>> The Parlophone Label Group is comprised of the historic Parlophone label and
>>> *Chrysalis* and*Ensign* labels as well as EMI's recorded music operations in
>>> Belgium, Czech Republic, Denmark, France, Norway, Portugal, Spain, Slovakia and
>>> Sweden. Its artist roster and catalog of recordings include, among many others,
>>> *Air*, *Coldplay*, *Daft Punk*, *Danger* *Mouse*, *David Guetta*, *Deep
>>> Purple*, *Duran Duran*, *Edith Piaf*, *Gorillaz*, *Iron Maiden*, *Itzhak
>>> Perlman*, *Jethro Tull*, *Kate Bush*, *Kylie Minogue*, *Maria Callas*, *Pet
>>> Shop Boys*, *Pink Floyd*, *Radiohead*, *Shirley Bassey*,*Tina* *Turner* and
>>> *Tinie Tempah*.
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