Universal Music has announced that it is combining the operations of its Swedish company with Stockholm Records.

Universal Sweden general manager Martin Aglander will take over as managing director of the combined company, with Stockholm founder Ola Hakansson taking on the role of chairman, overseeing the direction and development of local A&R. Hakansson, one of the founding fathers of the modern Swedish record business, will also "pursue other independent activities" in the market, according to a statement issued today. The ...