Universal Music to sell Parlophone to Warner Music for 487 million pounds

Thu Feb 7, 2013 11:54am EST

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(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.

(Reporting by Neha Alawadhi in Bangalore; Editing by Supriya Kurane)

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