Universal Music to sell Parlophone to Warner Music for 487 mln stg

Thu Feb 7, 2013 11:53am EST

Feb 7 (Reuters) - Vivendi SA's Universal Music Group said it has agreed to sell its Parlophone Label Group to Warner Music Group for 487 million pounds ($765 million).

Parlophone Label's artists include Air, Coldplay, David Guetta and Iron Maiden.

Warner Music Group is owned by privately held Access Industries Inc.