Parlophone Label Group sold - sources

Parlophone Label Group has been sold as a complete unit by Universal, Music Week understands. An official announcement with more details is due later this afternoon, say industry sources.

It is currently unclear which of the known bidders - including Warner Music Group, Fuller/Blackwell and a joint bid from Sony and BMG - will acquire the company.

PLG is expected to fetch a price tag of around $500m (£300m+).

Parlophone Label Group is an amalgamation of Parlophone and other divestments ...

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