UNIVERSAL MUSIC GROUP PROMOTES MICHAEL OSTROFF TO GENERAL COUNSEL, EXECUTIVE VICE PRESIDENT, BUSINESS & LEGAL AFFAIRS WORLDWIDE
Los Angeles, California, Friday, January 20, 2006 - Universal Music Group (UMG), the world’s leading music company, has promoted Michael Ostroff to General Counsel, Executive Vice President of Business and Legal Affairs, UMG worldwide, it was announced today by Zach Horowitz, President and Chief Operating Officer of the company. Formerly Executive Vice President of Business & Legal Affairs for UMG, Mr. Ostroff will continue to report to Mr. Horowitz.
In this capacity, Mr. Ostroff will be responsible for overseeing business and legal affairs for UMG on a global basis, including the development of corporate policies and strategies, as well as supervising UMG’s business transactions, contracts, and litigation. Mr. Ostroff will also work with domestic and international music industry trade groups on a wide variety of legal issues, and will play a key role in developing the company’s legislative strategies. The promotion recognizes the additional areas of responsibility Mr. Ostroff has taken on from Universal Studios since the sale of the company to NBC, including the global trademark and corporate secretary functions.
"Michael plays an invaluable role at UMG in helping us define our legal and business affairs strategies and policies on a global basis," stated Mr. Horowitz. "During an especially challenging time for the music industry--with so many business models being re-evaluated and changed--Michael brings an enlightened approach that combines his two decades of experience in the music industry, his sound business judgment, and his willingness to think out of the box to find creative solutions to the issues confronting us. On a personal note, it gives me special pride to announce Michael's new position as I have worked with him for over 20 years and have watched him grow into one of our industry's leaders."
"Being a part of the UMG family for more than two decades as we grew from MCA Records, into the Universal Music Group, has been both personally and professionally rewarding," added Mr. Ostroff. "I cannot thank Doug Morris (Chairman & CEO, UMG) and Zach enough for their generous support and confidence in me. Under their leadership, Universal has emerged as the leader in the industry; a vibrant and musically diverse company, with a spirited and competitive staff. And I am looking forward to helping continue that winning vision."
Mr. Ostroff began his current, 21-year association with Universal Music Group as Associate Director of Business and Legal Affairs for MCA Records. During his tenure with the company, the scope of his responsibilities has expanded to encompass managing the Group’s business and legal affairs, including representing both the Universal Music Group and the Group’s labels in transactional matters as well as supervising the Group’s legal matters.
Mr. Ostroff is a graduate of the University of Michigan Law School, and began his legal career as an associate in the law firm of Rosenfeld, Meyer & Susman.
Universal Music Group is the world’s largest music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, one of the industry's largest global music publishing operations.
Universal Music Group consists of record labels Decca Music Group, Deutsche Grammophon, DreamWorks Nashville, Interscope Geffen A&M Records, Geffen Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Music Latino, Universal Motown Records Group, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.).
Universal Music Group also includes eLabs, a new media and technologies division, and Universal Music Mobile.