Grainge: PLG sale provides 'significant resources for rebuilding EMI'
Lucian Grainge has commented on Warner’s now complete acquisition of Parlophone Label Group from Universal.
The Universal Music Group CEO and chairman has said that the £487 million cash paid for PLG will go towards rebuilding EMI as well as establishing UMG as a leader in the music industry’s digital transformation.
"We are very pleased to complete this transaction – another great step forward positioning Universal Music to fully capitalize on music’s many new and exciting opportunities,” said Grainge.
“Over ...
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