WMG Begins The Sell-Off

The U.S.-based major made an agreement with indie trade organizations Impala and Merlin that it would give practical help to the sector, provided it didn’t try to block its acquisition of the former EMI label.

WMG felt the support of the independents was crucial in gaining the European Commission’s go-ahead  to buy Parlophone.

The Parlophone deal itself came about because it was one of the labels Universal Music Group promised to shed when it bought EMI Records, again to appease the European monopoly authorities.

UMG also promised to let go Sanctuary and Mute labels.

Warner has reportedly made a list of Parlophone artists and assets, apparently running to thousands of pages, although it may not be that they’re all up for sale.

Interested parties had until the end of February to tell WMG which assets they’re interested in bidding for.