UNIVERSAL MUSIC GROUP ANNOUNCES INTENT TO ACQUIRE V2 MUSIC GROUP, LTD
V2 Records’ Catalog and Chart-Topping Artist Roster To Complement UMG’s Existing Businesses
London, England, August 10, 2007 – Universal Music Group (UMG), the world’s leading music company, today announced its intent to acquire V2 Music Group, Ltd, which includes V2 Records, a leading independent music company. Terms of the proposed transaction were not disclosed and the agreement is subject to regulatory approval.
In making the announcement, Lucian Grainge, Chairman and CEO of Universal Music International (UMGI), stated, “V2 is recognized as a pioneer in independent music with a diverse artist roster that spans many musical genres. As such, V2’s roster will complement our existing business. By applying our expertise in artist development and in the digital space, we’ll be able to maximize and enhance the opportunities for its artists even further.”
As one of Europe’s most dynamic independent labels, V2 is home to such multi-million selling artists as Stereophonics, Paul Weller, Anais, Isabelle Boulay and Henri Salvador. In addition, V2 owns and operates Co-Operative Music, its in-house licensing organization that includes such independent labels as Bella Union, City Slang and Wichita Recordings, and artists such as Bloc Party, Peter Bjorn and John, and Go Team! among many others.
About Universal Music Group
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry’s largest global music publishing operations.
Universal Music Group consists of record labels Decca Label Group, Deutsche Gramophone, 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, Universal South Records 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.
Universal Music Group is a unit of Vivendi, a global media and communications company.