February 12, 2013 - submitted by Vasilis, Greece

Q. Warner Music Group bought Parlophone. Does this affect the group in any direct (artistc, if you like) way, except from the fact that Warner will now sign the contracts rather than EMI? Thanks in advance!


The Oracle replies:

EMI had actually already been sold; Parlophone's sale was a condition of that deal.
The band won't be directly affected by the acquisition.
Stephen Cooper, CEO of Warner Music Group, said:
“We are committed to making this a great outcome for Parlophone’s artists and employees, who will find in WMG a similar spirit and culture that is dedicated to providing the most supportive and innovative home for recording artists. The continuation of the Parlophone legacy and brand are central to the future success of this combination, and we are proud to have them join us.”