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Mergers News

Universal Music to buy Branson's V2 Music Group

NEW YORK (Reuters) - Vivendi’s Universal Music Group said on Friday it has agreed to buy Richard Branson’s V2 Music Group in a deal that would add artists Paul Weller and Stereophonics to the portfolio.

Financial terms were not disclosed.

One source familiar with the matter said the purchase price was around 7 million pounds ($14.16 million).

Reporting by Yinka Adegoke

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