Re-sign with EMI at this point in their career? Do you really think so? I think the deal will have to be very very sweet, but it's really hard to imagine.

I ijust mean they probably have that option. But as I've said before, I hope they go their own way, or just sign a distribution deal so the creative part is strictly theirs. I wouldn't re-sign if I was them and could write my own ticket.

 

Their departure could actually implode EMI,lol.

Oh yeah! EMI would love to re-sign them for sure but I don't think it's going to be in their best interest. Also if this shake-up business hasn't been finalized by the time their contract ends, EMI might as well implode for sure, though they'd still own the rights to 5 valuable albums.

I ijust mean they probably have that option. But as I've said before, I hope they go their own way, or just sign a distribution deal so the creative part is strictly theirs. I wouldn't re-sign if I was them and could write my own ticket.

 

Their departure could actually implode EMI,lol.

 

I'm pretty sure they could negiotiate creative control either way. (though it seems like they already have a firm hold of their creative direction, they've certainly done some stuff I can't see EMI being thrilled with.) Anyway EMI needs them so badly at this point that they'll probably throw everything they can their way to get them to stay.

BMG wants to buy Coldplay's British label Parlophone

 

 

By Alex Pham

July 26, 2012, 7:58 p.m.

BMG Rights Management has raised its hand as a potential buyer for Parlophone Records, a boutique record label in Britain whose artists include Coldplay, Chemical Brothers and Sigur Ros, according to a music executive familiar with the discussions.

 

BMG is the latest to express a desire to purchase any assets that Universal Music Group divests to secure the approval of European antitrust regulators for its proposed $1.9-billion acquisition of EMI. That deal would reduce the number of major record labels in the world to three from four.

 

Universal declined to comment, citing confidentiality of the negotiations. A message to BMG was not immediately returned.

 

EMI operates three main labels in Britain -- Parlophone, Virgin Records and EMI Records. Universal had initially wanted to keep Parlophone and divest the two other labels. Interested buyers included billionaire Richard Branson, who founded Virgin Records in 1972 and sold it to EMI 20 years later.

 

Selling Parlophone would allow Universal to keep Virgin and EMI while satisfying the European Commission's insistence that Universal control no more than 40% of any country's market share for recorded music.

 

The deal would not include Parlophone's rights to sell Beatles albums in Britain, which Universal wants to keep, according to a record label executive who was not authorized to speak publicly on the transaction.

 

Sensing a buying opportunity, more than 20 companies have stepped up to declare their interest in any assets Universal decides to sell. BMG, a joint venture between Bertelsmann and investment firm Kohlberg Kravis Roberts & Co., last year unsuccessfully bid for EMI's music publishing business, which was ultimately sold to Sony Corp. for $2.1 billion. Sony is also among the companies that have lined up to potentially bid on Universal's divestitures, the executive said.

 

Some rival independent labels and consumer advocates have expressed concern that Universal, already the world's largest record company, would become too powerful if it merges with EMI.

 

Universal's chief executive, Lucian Grainge, has publicly stated that his company is "open-minded" about selling off assets in Europe to make regulators happy.

 

The European Commission has set a Sept. 6 deadline for issuing its ruling on the merger.

 

http://www.latimes.com/entertainment/envelope/cotown/la-et-bmg-in-talks-to-buy-cold-play-label-parlophone-in-the-uk-20120726,0,4308170.story

EMI reports pre-tax losses of £349m

 

 

EMI reports pre-tax losses of £349m

 

Label boss dismisses impairment charge as 'accounting issue', hailing the results as an 'incredibly strong performance'

 

EMI has reported a pre-tax loss of £349m in the year to the end of March, as a reasonable revenue and profit performance was dragged down by a writedown in the value of its businesses when they were sold to Universal Music and a music publishing consortium including Sony.

 

The music company, home to artists including Katy Perry, the Beatles and Coldplay, reported a slight year-on-year increase in revenues to £1.47bn.

 

EMI reported a pre-tax loss of £349m, down from £529m in the previous year, as it booked a £372m non-cash charge writing down the value of its two divisions, recorded music and publishing.

 

When EMI signed agreements to sell its recorded music and publishing businesses in November last year, to Universal and a consortium including Sony respectively, it was required to write down what it had estimated the value of its catalogues and goodwill to be as a result.

 

Stripping out the impact of this, as well as a £37m restructuring charge relating to staff cuts, EMI reported underlying earnings before interest, tax, depreciation and amortisation (Ebitda) of £290m. This represents a fall of 5.22% year-on-year.

 

On a similar basis operating profit rose from £69m to £133m year-on-year.

 

In an email to staff, seen by MediaGuardian, Roger Faxon, the chief executive of EMI, hailed the results as an "incredibly strong performance... set against the backdrop of a challenging state of the music market and wider economic conditions".

 

He dismissed the impairment charge as "just an accounting issue" hailing the adjusted operating profit figure as an "astonishing achievement in this market".

 

EMI's recorded music division saw revenues rise just under 2% year-on-year, despite a decline of 8.1% in the overall market for physical CDs, to £1.03bn thanks to artists including Katy Perry, Coldplay and Beastie Boys. EMI Publishing managed to keep revenues "broadly flat" at £434m.

 

In terms of profits, of the total adjusted Ebitda figure of £290m the company made last year, EMI Recorded Music delivered £158m, down from £169m while EMI Publishing made £132m, down from £137m.

 

Faxon's email also gave insight into the most up-to-date performance of the business, revealing that in the three months to the end of June EMI Music's sales were up 3.7% year-on-year while Ebitda rose by £6.6m.

 

No base figure was given from which Ebitda has increased.

 

"These results are a demonstration of the success of how our strategy has really helped us to enhance the way we connect our artists and writers with a worldwide audience," said Faxon. "This isn't a success story that you're seeing at other music companies. It's our job to make sure that these businesses are ideally positioned for the next stage of their storied histories under new ownership."

 

EMI's cash position eroded by £178m to £270m, primarily due to repaying £250m of debt.

 

Universal Music is currently facing regulatory scrutiny of its £1.2bn deal to buy EMI's recorded music operation in the US and Europe.

 

http://www.guardian.co.uk/media/2012/aug/07/emi-pre-tax-loss-349m?newsfeed=true

Parlophone faces sale in EMI deal

 

 

Parlophone faces sale in EMI deal

 

Parlophone, the record label behind Kylie Minogue, Coldplay and Blur, is to be sold as a condition of EMI's takeover by Universal, it has been reported.

 

The European Commission, which is expected to sign off Universal's £1.2 billion acquisition of EMI this week, has been concerned that the world's biggest music company will be too powerful if it swallows EMI whole.

 

The Sunday Times said the concession from Universal to offload EMI's Parlophone arm will interest potential buyers such as German media giant Bertelsmann and Mute, the indie label behind Goldfrapp and Moby.

 

As well as Parlophone, EMI's other record labels include Virgin Records and EMI Records. Its takeover by Universal, which is home to artists from Take That to the Rolling Stones, has been opposed by many independent record labels.

 

Universal, which is led by Londoner Lucian Grainge, is expected to raise between 250 million euros (£200 million) and 300 million euros (£240 million) from the sale of Parlophone and other smaller labels.

 

EMI, which also owns the Abbey Road studios, was taken over by US bank Citigroup in 2011 after its private equity owner Terra Firma was unable to keep up with interest payments.

 

It has also agreed the sale of its music publishing arm, which collects royalties from broadcasting of music on television and radio, to a Sony-led consortium.

 

 

http://www.google.com/hostednews/ukpress/article/ALeqM5iz8nrZHY2r0aejOcJH-TlwbsIheg?docId=N0336691346593523933A

Coldplay to leave EMI following approval of Universal's £1.2bn takeover

 

Universal's £1.2bn EMI takeover approved – with conditions

 

Universal Music has been given the green light for its £1.2bn EMI takeover by the European Commission, but will have to sell off labels that bring in nearly a third of the British company's revenues – including recordings from Coldplay, Pink Floyd and David Bowie – in order to gain approval.

 

 

The deal has already been cleared in Australia and Japan and was also approved in the US on Friday.

 

Valuable EMI assets Universal will have to offload include the historic Parlophone record label – bar the Beatles – but also the British company's half share in the perennially popular Now! That's What I Call Music compilation series and its operations in 10 other European countries.

 

Universal said that despite the large-scale enforced sell-off – understood to account for 10% of the new combined business's global revenues and 30% of the existing EMI operation – the deal will still be financially positive and parent Vivendi is still supportive of the music group's management.

 

But the approval process has been bruising for Universal, which has been forced to make far more divestments than originally expected and has required the Vivendi chairman, Jean Rene Fortou, to join the lobbying effort in Brussels alongside the Universal Music chief executive, Lucian Grainge.

 

"We are delighted Universal Music will retain over two-thirds of EMI on a global basis, contributing to the accretive nature of the deal," said a Universal spokesman. "With a broad array of EMI artists from Katy Perry, Emeli Sandé [and] Robbie Williams ... to icons like The Beatles, the Beach Boys, Genesis and Bob Seger, we remain true to our vision: to invest in talent and grow the company to offer consumers more music and more choice."

 

According to music industry sources as many as a dozen parties have already expressed interest in snapping up assets, including Warner Music and BMG Rights Management, the failed bidders for EMI's recording and publishing businesses. Universal will have to sell the labels to companies active in the music industry, or have a "proven track record" – and cannot re-sign any of the artists for a period of 10 years.

 

In the US, the FTC approved the acquisition with a unanimous 5-0 vote, with no remedies or disposals required. The deal has been approved by regulators by all relevant country regulators.

 

Vivendi said that the deal would be able to "significantly strengthen its ownership of exclusive content".

 

In an email to staff the outgoing EMI chief executive, Roger Faxon, said: "With [EC] approval and the imminent clearance in America, as well as those already received from other regulators around the world, UMG has cleared the final hurdle in its quest to become the owner of EMI Music."

 

Meanwhile, Sir Richard Branson's attempt to buy back Virgin Records UK appears to have been thwarted, as Universal Music will not have to divest the business – although it is selling Virgin Classics.

 

"Competition in the music business is crucial to preserve choice, cultural diversity and innovation," said the European Commission vice-president in charge of competition policy, Joaquín Almunia. "The very significant commitments proposed by Universal will ensure that competition in the music industry is preserved and that European consumers continue to enjoy all its benefits."

 

A major concern for the European Commission was the ability for an enlarged Universal Music to dominate the price of digital music, especially licensing deals with players such as Amazon, Apple, Spotify and Vodafone.

 

"The commission's investigation confirmed that even a customer such as Apple continues to launch new digital music services and that it is not established that it could defeat price increase or other types of worsening of licensing terms by Universal," said the commission.

 

Bruce Kilpatrick, head of City competition at law firm Addleshaw Goddard, said that Universal had paid a "high regulatory price" but added that the impact of Apple on the music market also helped the deal go through.

 

"With such an extensive remedies package, Universal has paid a high regulatory price for EMI. But it's important to put this into context: this deal would have been blocked 10 years ago, before iTunes was established, so Universal will still be pleased to have secured clearance and will be confident that it can make the deal work for the benefit of its shareholders."

 

As part of the deal Universal has agreed to drop the clause known as "most favoured nation" – which obliges digital customers such as Apple to extend any favourable term granted to rivals also to Universal – for 10 years.

 

"This commitment will allow Universal's competitors to negotiate more freely with digital customers and further levels the playing field between these competitors and Universal," said the commission. "The commission concluded that competition on the digital music markets in the European Economic Area will be adequately preserved and that the transaction will have no negative impact on consumers."

 

It has come in for intense criticism from the independent music industry, which is concerned about Universal's global dominance, but there has been a positive response to Universal having to sell off valuable EMI's assets to push the deal through.

 

"Universal are being forced to sell the crown jewels of EMI following their misjudged attempt to persuade the European Commission that there would be no competition concerns," said Alison Wenham, chief executive of the Association of Independent Music. "We congratulate the EC on a very diligent and thorough investigation."

 

According to the Music & Copyright Blog, Universal has an almost 36% share of total recorded music revenues globally, ahead of Sony Music on almost 22% and Warner Music on 15%.

 

Impala, which represents music companies including Beggars Group, home to Adele, said the remedies were "not tough enough" and that Universal's "arrogance" had paid off.

 

"Universal's arrogance has paid off for them ... they have destroyed a significant competitor, and that even with these divestments their ability to dominate and control the market has reached even more unacceptable levels," said Martin Mills, chairman of Beggars. "Anyone trying to start a new digital service will be realising that very soon, and we will continue to look to the regulators to monitor ongoing behaviour."

 

EMI's Faxon said it will be "pretty much business as usual" for business units of EMI that Universal is retaining.

 

However, the parts that are to be sold off, probably over a period of about six months, will be ringfenced as a separate unit managed independent of Universal.

 

Faxon, who said he will step aside on 28 September when the deal is complete, said that an executive will be appointed in a few days to run the businesses as a "hold separate manager".

 

"His role is to be sure that these businesses continue to be a strong and competitive force on the market, through and beyond the point at which they are sold," said Faxon. "He will report to a trustee whose duty is to assure that the intent of the agreement with the commission is met".

 

Faxon is already the subject of rumours of a shift to a rival, with Warner Music touted as his most likely future employer.

 

Full list of divestments

 

• EMI Recording Limited (including EMI's iconic Parlophone label, with the exception of the Beatles), featuring artists such as Coldplay, Blur, Kylie Minogue and artists with steady revenues such as Pink Floyd, Cliff Richard and Tina Turner.

 

• Other EMI labels, such as Chrysalis (featuring Spandau Ballet, but without the Robbie Williams catalogue) and Mute Records (featuring Depeche Mode, and Nick Cave and the Bad Seeds).

 

• EMI Classics/Virgin Classics artist and composers and EMI's half share in the popular "Now! That's What I Call Music" compilations business.

 

• Universal's Sanctuary (featuring Iron Maiden), Co-op Music Ltd, King Island Roxystar (featuring Swedish artists such as Agnes) and MPS Records (featuring Oscar Peterson), and Universal's share in Jazzland (featuring Norwegian artists such as Bugge Wesseltoft and Sidsel Endresen).

 

• EMI operations in France (featuring the David Guetta catalogue), Spain, Portugal, Belgium, Denmark, Sweden, Norway, Poland, Czech Republic) – and Universal Greece (featuring Eleftheria Arvanitaki, the Goin' Through Group and Nikos Vertis).[/b]

 

 

http://www.guardian.co.uk/media/2012/sep/21/universal-emi-takeover-approved?newsfeed=true

With Universal being forced to sell on the Parlophone label, what does that mean for the cluster of artists signed to the label (Coldplay, Gorillaz etc)?

 

Is it true Coldplay's EMI deal finished after 5 albums? Are they free to go about their business as they want?

One could even see Coldplay moving back to Universal if their EMI deal is in fact up, they still have a publishing deal with them, whatever that entails.

Now's their time to make their own record label. They've got the beehive and the bakery already so they don't need to worry about facilities, and they're definitely popular enough to finance something like that. I think it could open a lot of creative opportunities and they could even sign/produce people if they had there own label (Which would be really good for Guy)!

Now's their time to make their own record label. They've got the beehive and the bakery already so they don't need to worry about facilities, and they're definitely popular enough to finance something like that. I think it could open a lot of creative opportunities and they could even sign/produce people if they had there own label (Which would be really good for Guy)!

 

They would be doing a great thing if they started up a new record label. To have a new independent record label out there searching out up and coming acts would be a fantastic thing they would be doing. It would give them so much control and could make things easier for the band.

great news!! i too hope they make their own label

 

Strike? There's no other way: Blur lead pop protest over sale of label

 

Artists threaten to withhold future releases if planned sell-off of Parlophone goes ahead. Adam Sherwin reports

 

Some of Britain's top-selling musicians may withhold their future albums in protest against being treated as "assets" in the forced sale of their label, The Independent can disclose.

 

Blur are leading a revolt against the sell-off of Parlophone, part of the EMI group, which has been the launchpad for dozens of artists from The Beatles to Coldplay. Universal Music, the French-owned firm, has been ordered to shed Parlophone as part of its £1.2bn takeover of EMI.

 

The move has unsettled artists on Parlophone's roster, which also includes Kylie Minogue and Tinie Tempah. The stars, many of whom are worth millions of pounds, say they object to being treated as pawns in a corporate takeover.

 

Blur have joined forces with their label-mates to collectively lobby potential bidders for the company, calling on them to place the interests of artists first. Stars not happy with the new owners could withhold future releases, effectively going on "strike". Dave Rowntree, drummer with Blur, told The Independent: "Artists are the only people currently being left out of the conversation, which is unfortunate. If the staff at the label are unhappy with the new arrangements they are free to leave, but the artists are not."

 

Rowntree is backing negotiations through the Featured Artists Coalition (FAC), a pop stars "trade union", supported by Lily Allen and Radiohead.

 

"The FAC was formed by musicians who were fed up with the industry taking decisions without considering the impact it would have on those who actually make the music," he said. "The FAC and the Music Managers Forum are looking to engage with Parlophone to see how we can help."

 

The drummer, 48, now a qualified solicitor, said he once advised the head of EMI how to prevent illegal file-sharing, which has decimated music sales, from destroying the company's revenues. "Years later, while the label I grew up working with is being broken up and flogged off, Apple have made a gazillion dollars using the business model I explained. I'm left in the completely unsatisfying position of being able to say, 'I told you so'."

 

The great music sell-off includes artists earning "steady revenues" such as Pink Floyd, Cliff Richard, Tina Turner, Kate Bush, David Bowie, Duran Duran and Kraftwerk. Universal gets to keep The Beatles catalogue, which is excluded from the Parlophone sale, as well as Katy Perry, Robbie Williams and The Beach Boys.

 

Possible bidders for EMI's assets include Warner Music Group, Sony Music Entertainment and BMG Rights Management, a joint venture between a private equity group and the German media conglomerate Bertelsmann.

 

Jon Webster, chief executive of the Music Managers Forum, which represents managers and artists, said: "We are holding discussions with potential bidders. We want them to understand that the future of the record business is about genuine partnership with artists and that works best when their views are involved and they are not just traded as assets. But financiers often just say 'what are you talking about?'"

 

He added: "Artists have withheld releases to get better terms if they are powerful enough. They can sit down with the new owners and get a solution. It's the smaller acts that suffer most because they have no bargaining power."

 

Sir George Martin, the legendary producer who became Parlophone manager in 1955 and gave The Beatles their big break in 1962, is also believed to have concerns over the future of the label.

 

link

^Blur withholding future releases huh? Cause they haven't been doing that for 10 years....

 

Joking of course :wink:

 

Still, artists shouldn't withhold material just to get back at the label. The ones who really end up getting hurt are the fans...

^:lol:

Now's their time to make their own record label. They've got the beehive and the bakery already so they don't need to worry about facilities, and they're definitely popular enough to finance something like that. I think it could open a lot of creative opportunities and they could even sign/produce people if they had there own label (Which would be really good for Guy)!

 

I'd love to se this happen too. Maybe a distribution deal with Universal so they can still put out the same amount of product as always, but from their own label with complete creative control. They can write their own ticket now, no matter what they choose to do.

Fuller and Blackwell to bid for EMI assets?

 

Simon Fuller is reportedly planning to buy the 60% of EMI's businesses divested as part of the Universal acquisition in Europe in a £350 million deal.

 

The tip comes from The Independent, which positions the XIX Entertainment founder, American Idol pioneer and Spice Girls mastermind as a potential suitor for all of EMI's UMG deal concessions including Parlophone, Chrysalis, Mute and the catalogues of Pink Floyd, Kate Bush and David Bowie.

 

Fuller will be joined in the EMI bid by founder of Island Records Chris Blackwell, private financiers and a leading mobile telecommunications company, according to the broadsheet.

 

Universal is overseeing the sale and the label's CEO Lucian Grainge has worked with Fuller on several projects in the past, including S Club 7.

 

A spokesman for Fuller's company said: "XIX is a growing company and we'd always be interested in new opportunities in music as they arise. With Simon's track record over 25 years as Britain's most successful music manager we hope his interest in EMI would carry the support of the industry."

 

Fuller plans to relaunch the Now! compilations series as a weekly television and web show featuring stars such as Jay-Z and Madonna performing their latest hits, alongside a download chart rundown.

 

"Simon can launch new television vehicles using hit songs, there could be a Coldplay American Idol special. He understands the sensitivities that artists have about their futures," an associate said.

 

link

Simon can launch new television vehicles using hit songs, there could be a Coldplay American Idol special.

 

:uhoh:

EMI Ends Era With Sale of Assets From Motorhead to Coldplay

 

EMI, the music company that housed The Beatles until it was split up and sold last year, goes on the auction block again this week as new owner Universal Music Group (VIV) divests some assets to meet antitrust requirements.

 

Parlophone, home to Coldplay, the Pet Shop Boys and Tina Turner, accounts for about half of a package of labels with a valuation of about 400 million pounds ($635 million), according to a person familiar with the process who asked not to be identified because it is confidential.

 

A data room detailing the assets for sale, artist rosters and financial information will be opened this week for entities that have expressed interest, including Warner Music Group, BMG Rights and Sony Music Entertainment, the person said. Other assets being offered include the Sanctuary label, home to The Kinks and Motorhead, and the Mute label, which represents Moby.

 

Vivendi SA’s Universal Music, the world’s largest record company, bought EMI’s recorded music unit for 1.2 billion pounds last year and must sell almost two-thirds of the business to win approval from competition regulators in Europe and the U.S. Universal Music will retain London-based EMI’s rights to The Beatles and Robbie Williams among other assets.

 

Vivendi rose as much as 1.6 percent to 16 euros in Paris trading and was up 0.8 percent as of 10:27 a.m.

 

Representatives from Universal Music, BMG Rights and Sony Music declined to comment, while officials at Warner Music couldn’t immediately be reached for comment.

 

Parlophone, Chrysalis

Among the labels for sale, Parlophone, Chrysalis, EMI Classics and EMI Records, whose acts include Pink Floyd, increased revenue in the 12 months through March by 42 percent to 375 million pounds from a year earlier, according to information released to bidders that is obtained by Bloomberg. Sales in the five months through August climbed 5 percent to 105 million pounds, while gross profit margin rose 2 percentage points to 52 percent, according to the data.

 

The first round of bidding is expected in mid-to-late December and Universal Music is seeking to complete the sales process in the first half of next year, the person said.

 

Simon Fuller, creator of the “Idol” television show franchise, and Chris Blackwell, founder of Island Records, have jointly approached Universal about bidding, and billionaire Ron Perelman has also talked to the company, the person said.

 

Representatives for Fuller and Perelman didn’t return messages seeking comment.

 

Bank of America Merrill Lynch and Goldman Sachs Group Inc. are managing the sale.

 

Citigroup seized EMI from Guy Hands’s private-equity firm Terra Firma Partners Ltd. in February 2011 after it failed to meet loan terms. Hands bought EMI in 2007. Under Hands, who cut jobs and reorganized the business, acts including the Rolling Stones, Paul McCartney, Queen and Radiohead left the label.

 

A Sony Corp.-led group agreed to pay $2.2 billion for EMI publishing when the company was split up last year.

 

link

Sony rejoins BMG for Parlophone bid

 

Sony has teamed up with BMG to bid for Parlophone and other EMI labels being sold off by Universal Music, reuniting Sony and Bertelsmann four years after they disbanded their Sony BMG joint venture.

 

The revelation looks set to heighten competition for the auction of labels that regulators forced Vivendi’s Universal to sell as a condition of its £1.2bn purchase of EMI last year. Around a dozen groups are interested in bidding for Parlophone, the venerable British label that includes artists from Coldplay to Kylie Minogue, according to people close to the transaction.

 

Other bidders are eyeing smaller assets Universal is selling, including the Sanctuary, Coop and jazz labels.

 

Warner Music, long seen as the most motivated bidder for Parlophone, recently appointed Rob Wiesenthal, a former Sony executive and music industry dealmaker, to the role of chief operating officer to bolster its chances in future rounds of consolidation. Warner, owned by Len Blavatnik’s Access Industries, lost out in the bidding for EMI’s recorded and music publishing divisions last year after a 13-year pursuit of the UK company.

 

Other interested bidders include Ronald Perelman’s investment company MacAndrews & Forbes and Simon Fuller, founder of the American Idol TV series, and Chris Blackwell, founder of Island Records, who are working together with backing from Lord Jacob Rothschild’s RIT Capital Partners.

 

Under the arrangement between Sony and BMG, the music rights management group owned by Bertelsmann and private equity group KKR, the two companies have agreed to bid jointly for Parlophone and other assets. As each company is understood to be interested in different music assets, a joint bid will enable them to make a more competitive offer. If their bid is successful, they will then split the assets between them. They will not form another joint venture company.

 

Under terms agreed with the European Commission, Universal has agreed to sell two-thirds of EMI to an established music rival in a bid to ensure significant competition in Europe. It is not thought that a split of Parlophone and other EMI assets between BMG and Sony would undermine this agreement as both are sizeable music companies.

 

Sony and BMG refused to comment on the tie-up, but a BMG spokesman said: “We have already demonstrated with our bids for publishing copyrights from Sony and the Mute Records catalogue from Universal that BMG is an active player in the reshaping of the music industry. To that end we will do what is necessary to make any bids as competitive as possible.”

 

Last month BMG purchased UK music label Mute, in the first of the series of disposals by Universal that had been ordered by European regulators. The London-based label is home to a number of artists including Depeche Mode, Erasure and Moby.

 

Bids for Parlophone and the other labels are expected to be made within the next two weeks. Vivendi is hoping that the high level of interest will enable it to recoup more than £400m from the sales, although some would-be bidders have queried this valuation.

 

link

Warner Music to buy Parlophone label from Universal

 

Warner Music is to buy the record label Parlophone from Universal Music for £487m ($765m), it has announced.

 

Warner said it would pay cash for the label, whose artists include Coldplay, Kylie Minogue and Pink Floyd.

 

Parlophone was formerly a part of EMI Music.

 

Regulators approved Universal's takeover of EMI in September, but said it would have to sell off some of EMI's assets, including Parlophone, to allay competition concerns.

 

"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," said Len Blavatnik, chairman and founder of Access Industries, the parent company of Warner Music.

 

The Parlophone label group also includes the Chrysalis and Ensign labels, as well as EMI's recorded music operations in Belgium, the Czech Republic, Denmark, France, Norway, Portugal, Spain, Slovakia and Sweden.

 

With its wide range of artists, Parlophone had been described as the "jewel in the crown" of EMI.

 

The Beatles, part of Parlophone, were exempted from the sale.

 

link

Warner Music buys EMI Group’s Parlophone

 

Warner Music Agrees to Buy Coldplay Label for 487 Million Pounds

 

 

 

 

 

 

Warner Music Group agreed to buy EMI Group’s Parlophone Label Group, home to Coldplay, the Pet Shop Boys and Tina Turner, from Universal Music Group for 487 million pounds ($764 million).

 

 

“Following this transaction, we will continue with our global reinvestment program that is rebuilding EMI,” Lucian Grainge, chief executive officer of New York-based UMG, said in a statement yesterday.

 

 

Vivendi SA-owned UMG, the world’s biggest record company, has been selling EMI assets to meet antitrust requirements after receiving approval from the European Commission in September for its 1.2 billion-pound acquisition of EMI from Citigroup Inc. In December, UMG agreed to sell the

 

Mute label to BMG Rights Management.

 

 

For the Parlophone deal, Goldman Sachs Group Inc. and Bank of America Merrill Lynch provided financial advice to UMG and Vivendi, while SJ Berwin, Shearman & Sterling and Smiths Law gave legal advice, according to the statement. LionTree and Credit Suisse advised Warner Music.

Simon Fuller, creator of the “Idol” television show franchise, and Chris Blackwell, founder of Island Records, had jointly approached Universal about bidding for EMI assets, and billionaire Ron Perelman had also talked to UMG, a person familiar with the process, who asked not to be identified because it was confidential, said in November.

 

 

Citigroup agreed in November 2011 to sell EMI’s recorded music and publishing business in separate transactions for a combined $4.1 billion.

 

 

A Sony Corp.-led group paid $2.2 billion for the publishing assets. Citigroup seized EMI from Guy Hands’s private equity firm, Terra Firma Partners Ltd., in February 2011 after it failed to meet loan terms. Hands initially bought EMI for 4 billion pounds in 2007.

 

 

 

link

 

 

Do you think this may be why they couldn't tour the LatinAmerican Tour?? Does a percentage of their touring profits go to their label also or no?

I'll take 487 million euros in US dollars please and thank you.

 

Thanks Warner Music! :dazzled:

 

Coldplay label changes to Atlantic Records after Warner Music restructuring

 

Warner Music Group has finalized the integration of Parlophone’s roster into its U.S. label structure following the acquisition of the record label from Universal Music Group for £487 million (about $765 million) earlier this year, <a href="http://www.billboard.com/biz/articles/news/global/5840082/coldplay-david-guetta-go-to-atlantic-records-radiohead-pink-floyd" target="_blank">Billboard</a> are reporting today.

 

Under the new structure, <b>Atlantic Records</b> will distribute new releases from three additional artists – <b>Coldplay</b>, Tinie Tempah and, through dance imprint Big Beat, David Guetta.

 

Warner Bros. Records will inherit the majority of the Parlophone roster, including new releases from Damon Albarn, Kylie Minogue, Lily Allen, Bat For Lashes, Eliza Doolittle, Conor Maynard, Gabrielle Aplin, among others, and catalog titles from Pink Floyd, Jethro Tull, Blur, Gorillaz, Radiohead, Kraftwerk, Supergrass and Sinead O’Connor.

 

You will remember that <a href="http://www.coldplaying.com/?p=16648" target="_blank">back in February</a> of this year Warner Music obtained Parlophone, which was formerly part of EMI, from Universal Music Group after the European Union made its approval of UMG's acquistion of EMI contingent upon the divestment of the label among other conditions.

 

a Warner Music spokesperson told Billboard in a statement:

 

<blockquote>“We're extremely proud that Parlophone’s great diversity of incredible artists are part of the Warner Music family. As you’d expect, we’ve been taking a very thoughtful approach to which U.S. label is partnered with each act, working closely with the artists and their management.” </blockquote>

 

The integration of Parlophone acts onto the Warner Bros. and Atlantic rosters started quietly rolling out this fall with a new album from Eliza Doolittle and much-blogged about single from Lily Allen released through Warner Bros., and David Guetta doing press on behalf of Big Beat to premiere a new single and music video with the United Nations.

 

Warner Bros. Records, which inherits the majority of the Parlophone roster, is closing a tumultuous 12 months that saw the departure of president-CEO Todd Moscowitz last December, followed six months later by the exit of co-president Livia Tortella in June. Warner/Chappell Music chairman Cameron Strang has been running the label for the past year, in addition to oversight of Rhino and Warner/Chappell. Though the label had No. 1 albums from superstar acts like Josh Groban, Michael Buble and Avenged Sevenfold in 2013, it failed to generate many pop hits – ranking No. 7 on Billboard’s year-end tally of Hot 100 labels, and No. 9 on Billboard 200 labels. Having new music from Lily Allen, Kylie Minogue and a just-announced solo project Damon Albarn should help keep the label competitive in the first half of 2014.

 

Atlantic is capping off a successful 2013 that saw Bruno Mars moving enough copies of sophomore set “Unorthodox Jukebox” to become the year’s fourth-biggest seller, with additional hits from Hunter Hayes, Wale, Kid Rock, TGT, Skillet, Janelle Monae and K. Michelle. Unlike Warner Bros., home to Green Day, Red Hot Chilli Peppers and Metallica, Atlantic doesn’t have a signature rock band, which it gains with the addition of Coldplay.

 

Warner’s acquisition of Parlophone’s catalog was finalized in May after approval from the European Commission, has already buoyed the company’s earnings. In its most recent quarter, ending Sept. 30, the Warner Music group posted a $57 million net loss on revenue of $764 million for the quarter ending Sept. 30. That represented an increase of 4.5% from $731 million in revenue during the corresponding quarter of the prior year, thanks largely to the addition of Parlophone Records. Without the addition of Parlophone Records in the fourth quarter, revenue would have been about $704 million, which represents a 3.7% decline.

 

Parlophone will remain a frontline label in other international territories.

 

<blockquote class="twitter-tweet" lang="en"><p>WMG divvies-up <a href="https://twitter.com/parlophone">@parlophone</a>: <a href="https://twitter.com/coldplay">@Coldplay</a> <a href="https://twitter.com/radiohead">@Radiohead</a>, <a href="https://twitter.com/kylieminogue">@KylieMinogue</a>, <a href="https://twitter.com/pinkfloyd">@PinkFloyd</a> <a href="https://twitter.com/davidguetta">@DavidGuetta</a> to Atlantic or WBR <a href="http://t.co/rXwX4WNRCo">http://t.co/rXwX4WNRCo</a> <a href="https://twitter.com/search?q=%23Excl&src=hash">#Excl</a>.</p>— billboardbiz (@billboardbiz) <a href="https://twitter.com/billboardbiz/statuses/413342348010344448">December 18, 2013</a></blockquote>

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This news comes just 24 hours after Parlophone tweeted these from a Somerset pub:

 

<blockquote class="twitter-tweet" lang="en"><p>Wow!! <a href="https://twitter.com/coldplay">@coldplay</a> just casually playing Ring O' Bells <a href="https://twitter.com/search?q=%23onlypubinthevillage&src=hash">#onlypubinthevillage</a> <a href="http://t.co/TdB1EzxIRf">pic.twitter.com/TdB1EzxIRf</a></p>— Parlophone Records (@parlophone) <a href="https://twitter.com/parlophone/statuses/412702995311505408">December 16, 2013</a></blockquote>

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<blockquote class="twitter-tweet" lang="en"><p>Reminiscing about last night. The calm before the incredible storm at the <a href="https://twitter.com/Ring_O_Bells">@Ring_O_Bells</a>