Vivendi seals Parlophone music label sale to Warner
PARIS Feb 7 (Reuters) - Vivendi and its subsidiary Universal Music Group have agreed to sell the Parlophone music label to Warner Music for 487 million pounds ($764.71 million) in cash, Vivendi said in a statement.
Vivendi had to sell Parlophone, one EMI's oldest active labels with artists like Coldplay and the Pet Shop Boys, to satisfy EU regulators' concerns about its $1.9 billion purchase of EMI's recorded music business.
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