Thursday 7 February 2013, 17:06 | By

Martin Mills positive about sale of Parlophone to Warner

Business News Deals EMI Sale Timeline Labels & Publishers Top Stories

Martin Mills

Beggars Group chief Martin Mills – one of the most vocal critics of Universal’s acquisition of the EMI record labels – has said that the sale of Parlophone Label Group to Warner Music Group is “the best result”.

Mills told CMU: “Warners winning this is the best result for the market, given the [European] Commission’s expressed desire to create a countervailing force to the established duopoly of Universal and Sony. We trust that direct benefits to the independent label sector and the artist community will flow from it”.

As previously reported, Parlophone Label Group, the company formed to control those EMI businesses Universal was forced to put up for sale by competition regulators last year, was sold to Warner Music for £487 million earlier today.

OR READ MORE ABOUT: | | | |

  • IFPI report hones in on labels’ investment in music
  • London’s Madame Jojo’s closed following violent incident
  • Independent Venue Week to return
  • Björk releasing a bjook in 2015
  • System Of A Down confirm milestone 2015 shows
  •