UMG Sells Off More Former EMI Assets
February 28, 2013

Universal Music Group has sold off more of EMI's former assets, as part of the conditions of the UMG-EMI deal. According to Music Week, UMG has sold indie label support company Co-Operative Music, to [PIAS], while the European rights to the NOW! series of compilations have gone to Sony Music Entertainment

Universal did not disclose details of the NOW!-Sony sale, but UMG International COO Max Hole said in a statement that the deal "demonstrates the value we have been able to unlock through the targeted divestment of quality assets." Bloomberg notes that the deal is valued at approximately $60.5 million.

Sony International Chairman/CEO Edgar Berger added, "NOW is one of the most famous and successful brands in music. We are delighted to have acquired EMI's interests in the NOW brand in Europe and will work with Universal Music and our other partners across the industry to build the next chapter in NOW''s history."

Music Week also reports that UMG has made seven divestments of EMI assets, aside from its deal for Parlophone, going to six different buyers for approximately $68.264 million. However, a few of these deals have yet to be formally announced.




 
Breaking News
Hubbard Radio Ups Jeremy Sinon To Corporate Digital Director
The Week In Review: 5/18-5/22
KSZR/Tucson Becomes Classic Hip Hop, 97.5 The Vibe
In Brief - May 22, 2015
May 21, 2015
President Obama To Renominate Jessica Rosenworcel As FCC Commissioner
Herndon Hasty Joins Cumulus Kansas City As VP/Sales
In Brief - May 21, 2015
May 20, 2015
Bruce Lundvall, Longtime Blue Note President, Dies At 79
Zach Mullins Named Digital Sales Manager For Cox Media Group/Atlanta
Quality Control Music Signs Joint Venture With Capitol Music Group/Motown Records
Spotify Adds Video Content, Podcasts
In Brief - May 20, 2015
May 19, 2015
iHeartCommunications To Pay $1M For Misusing EAS Tones During The Bobby Bones Show
Nielsen Study: Radio Delivers Decision-Makers For American Family Insurance
Triton To Represent XAPP Ad Inventory For jācapps Broadcasters
Pandora To Acquire Next Big Sound
Deezer Expands Content With News, Entertainment and Sports Podcasts
Republic/Island Execs & Artists at the BMA’s
In Brief - May 19, 2015
May 18, 2015
Alpha Media To Purchase Morris Communications Radio Stations
"Party Ben" Gill Joins Pandora
Spanish Broadcasting System First Quarter 2015 Results
Communion Records US Signs Broad Agreement With Capitol Music Group
BMG Acquires US Rock Label Rise Records
In Brief - May 18, 2015
May 15, 2015
Music News
Adam Lambert Unveils Two New Tracks
Academy Award-Nominated Actress Hailee Steinfeld Inks Record Deal With Republic Records
The Week In Review: 5/18-5/22
Quick Hits: Taylor Swift, Eminem, Enrique Iglesias, Slayer
Quick Hits: Taylor Swift, Madonna, Little Mix, Roger Waters
Pitch Perfect 2 Comes In At #1
Quick Hits: Foo Fighters, The Rolling Stones, Kanye West, Five Finger Death Punch, Amy Winehouse, Riot Fest
FMQB Photo Pass: MMRBQ 2015
Quick Hits: Sam Smith, B.B. King, Life Is Beautiful festival, Bullet For My Valentine
Taylor Swift Cleans Up at Billboard Music Awards
Chris Brown, Nicki Minaj Lead 2015 BET Awards Nominees
Quick Hits: Taylor Swift, Bob Dylan, Janet Jackson, Nick Jonas, Chinx
Blues Legend B.B. King Passes Away
The Week In Review: 5/11-5/15
FMQB Photo Pass: Radio 104.5 Birthday Show
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!