Richard Branson will bid for Virgin Records if it is sold by Universal Music Group as a condition of the major label’s proposed £1.2 billion acquisition of EMI Music.
Spokesman for Branson Nick Fox said the prospect of buying the label would be the route back into the recorded music industry the company has been looking for.
“Richard Branson and Virgin have been assessing how to get back into the recorded music business for many years,” Fox told press.
“The potential disposal of Virgin Records by Universal Music offers a wonderful opportunity to recreate a dynamic independent label in the market.”
The official comment adds to surprising words from IMPALA co-president Patrick Zelnik yesterday saying that he had been in talks with Branson about heading Virgin Records should the business tycoon buy it back.