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Post Info TOPIC: Universal Music Group buys EMI Music


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Universal Music Group buys EMI Music


It's Official! UMG Buys EMI Music

Reports Have Sony/ATV Acquiring EMI Publishing

November 11, 2011 at 11:48 AM (ET)

It's official! VIVENDI's UNIVERSAL MUSIC GROUP (UMG), announced TODAY (11/11) that they have signed with CITIGROUP INC. a definitive agreement to purchase EMI's recorded music division for a total consideration of £1.2 billion (approximately $1.9 billion) representing 7 x EBITDA prior to synergies.

VIVENDI CEO JEAN-BERNARD LÉVY said, "We are very proud to welcome EMI into the VIVENDI family. We all respect the labels within EMI as well as the artists and employees who contribute to its success. They will find within our Group a safe, long-term home, headquartered in EUROPE."

LÉVY added, "We plan to acquire EMI's recorded music division on attractive terms, adhering to our principle of total financial discipline. We are confident that we will be able to create additional value for our shareholders thanks to our knowledge of the industry and our proven track record of successful integration. LUCIAN GRAINGE's personal experience and heritage will be a major asset in making the combined entity a great success."

UMG Chairman/CEO LUCIAN GRAINGE said, "This is a historic acquisition for UMG and an important step in preserving the legacy of EMI MUSIC. For me, as an Englishman, EMI was the preeminent music company that I grew up with. Its artists and their music provided the soundtrack to my teenage years. Therefore, UMG is committed to both preserving EMI's cultural heritage and artistic diversity and also investing in its artists and people to grow the company's assets for the future. As a result, we will be better positioned to fully capitalize on the many new and exciting opportunities in the current marketplace, and also able to better serve our artists, songwriters and business partners, while offering fans even more choice."

CITIGROUP Vice Chair and EMI Chairman STEPHEN VOLK said, "We believe that this transaction accomplishes CITI's objective of maximizing the value of EMI, giving EMI MUSIC a partner in UNIVERSAL MUSIC that appreciates EMI's rich cultural legacy, its incredible stable of musical talent, and its employees who work so hard to deliver successful outcomes for the artists they represent. We are grateful to ROGER FAXON, his management team and all of EMI's staff for the continued success of this business during CITI's ownership."

The transaction has been approved both by the Management Board and the Supervisory Board of VIVENDI. Closing of the agreement remains subject to a number of conditions, including approvals of regulatory authorities in the countries and continents concerned.

VIVENDI will finance the transaction from its existing credit lines. Concurrently, VIVENDI and UMG will also sell 500 million euros worth of non-core UMG assets.

EMI Publishing Goes To Sony/ATV

THE LOS ANGELES TIMES reports, "SONY/ATV has reached a deal to buy the second part, the publishing division in charge of songwriting copyrights, for $2.2 billion, according to a person familiar with the matter."

http://www.allaccess.com/net-news/archive/story/98902/it-s-official-umg-buys-emi-music



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Dungan in line to get Universal Music top spot

Move comes as Universal Music Group buys EMI in $1.9B deal

Feb. 25, 2012 |  Written by Anita Wadhwani
The Tennesseean

Nashville record executive Mike Dungan will leave the top post at Capitol/EMI Records Nashville to take the helm of rival record company, Universal Music Group, according to an email sent Friday to employees from EMI CEO Roger Faxon.

There was no immediate word from Universal Music Group on where that leaves Luke Lewis, its CEO for the past decade.

Friday’s announcement comes in the midst of a global merger between the two record company giants – EMI and UMG – that is expected to have a seismic impact on many of Nashville’s establishment recording companies.

Universal Music Group announced in November it would buy EMI’s recording division for $1.9 billion. A separate but concurrent transaction involves the purchase of EMI’s song publishing division for $2.2 billion by a joint venture between Sony/ATV and the Michael Jackson estate.

The dual transactions, which are still subject to regulatory approvals, would result in further consolidation in the music landscape with the world’s top four music corporations whittled down to three when the dust clears.

On Nashville’s Music Row, the UMG purchase includes Capitol Records and its roster of country superstars such as Lady Antebellum, Keith Urban and Brad Paisley. It also includes EMI Christian Group, a label that has some of the genre’s top stars, such as Amy Grant and Steven Curtis Chapman.

Widely credited with being the visionary behind the success of Capitol/EMI Records’ roster, Dungan’s shift to the larger Universal Music Group signals the first tremor in what some have predicted could be a year of big shake-ups on Music Row.

Faxon’s memo to EMI staffers suggests that Dungan should be viewed as a competitor for the time being, but that would likely change once the merger becomes final and the operations of EMI and UMG are combined here.

“I would not be surprised that once the merger with Universal has closed, we will be linking up with Mike once again,” Faxon said. “But until that happens, while he will still be our friend, he will absolutely be our competition.”

At Universal Music Group, Dungan will take over a roster that includes George Strait, Sugarland, Lee Ann Womack and Shania Twain. Superstar Vince Gill was one of the label’s biggest stars for more than two decades, but just left with the expiration of his contract.

Dungan will leave Capitol/EMI on March 31 and join Universal about a month later, EMI chief Faxon told employees. Faxon did not specify Dungan’s new title at Universal.

Taking over from Dungan at Capitol/EMI is Bill Hearn, currently the top executive at EMI’s Christian music division.

Hearn will continue to oversee the EMI’s CMG Christian group, but will also take on the additional responsibility of Capitol Nashville, Faxon said.

Dungan, through a spokesman, declined comment.

Luke Lewis, current chairman of UMG Nashville, is credited with being the driving force behind discovering many of Nashville’s country artists, including Shania Twain and Easton Corbin. He has served at the helm of a major record label for nearly 20 years, longer than any other record label executive in Nashville.

The leadership changes at UMG Nashville follow big changes at UMG Nashville’s parent company as well. Universal Music recently replaced long-time CEO Doug Morris with Lucian Grainge, who headed international operations.

http://www.tennessean.com/article/20120225/BUSINESS01/302250018/Dungan-line-get-Universal-Music-top-spot



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Luke Lewis steps down as Universal Nashville/Mercury CEO


I came across this article that was published on Feb. 29th.  What this means for Shania is unclear, but no one comes unscathed from changes in leadership unless they are very fortunate or really business savvy. 

Back in the late 90s there was a big record label shuffle involving Garth Brooks because he lobbied for Pat Quigley to be on the label displacing Schott Hendricks (he and Brooks did not get along), the former head. There were many artists that were either transferred from Liberty records Nashville (they closed in 1995) or already were on Capitol whose careers took a nose dive such as Tanya Tucker and Suzy Bogguss among others as Brooks was Quigley's main priority.  Anyways, this change may be a good thing for Shania or a not so good thing. The new CEO has a more contemporary/traditional country roster. What this means for Shania's pop projects is unclear.

Below is the article.

Capitol's Mike Dungan is named chairman and CEO of Universal Music Nashville Entertainment as Luke Lewis steps aside. Is Music Row bracing for a showdown or a reunion?

When is leaving the presidency of a major record label not really leaving the presidency of that label? Answer: When your past and future labels are due to merge eventually anyway.

At least that’s the expectation with country music kingpin Mike Dungan, who shocked much of the Music Row community by resigning his post in charge of Capitol Nashville to take over Universal’s Nashville operations. After word of the switch got out late last week, the move was officially announced today by UMG chairman Lucian Grainge.

The wrinkle is the proposed merger between EMI and Universal, which could pass through the various international approval processes this fall. Combining the recorded music units may leave Dungan back in charge of his old Capitol roster, on top of the Universal imprints about to be put under his command.

PHOTOS: Scores That Rock: 10 Musicians Who Crossed Over to Movies

That’s what many of the top acts currently signed to Capitol are banking on, since they’re about to lose having the most popular exec in Music City on their side. Indeed, Capitol Nashville has lately been the brightest spot for the struggling EMI, at least when it comes to new, not catalog, product. Among the Capitol acts that could suffer without such a hot leader at the rudder: Lady Antebellum, Darius Rucker, Alan Jackson, Keith Urban, Dierks Bentley, Eric Church, Luke Bryan, and Little Big Town.

“Anything could happen with the merger, but I’m confident we’ll be working with him again by the end of the year,” said one artist manager. “He’s left a good support team in place, so I’m not that worried. But there are those moments when you’re looking to get a hit across and Mike would be the guy to make a few phone calls to push it to the top. I’m a little nervous what we’ll do without his ability to come in and do that.”

But a Universal insider says Capitol staffers and execs shouldn't be all that stressed about the succession, pointing out that the executive plan is to increase investment in Capitol's A&R that will run parallel to those initiatives on the Universal side, not replace one with the other. Where the merger will affect departments on both sides is in back office functions.

PHOTOS: 10 Grammy Greats: The 2012 Nominees Making Waves in the Industry

Dungan, who’s headed up Capitol Nashville since 2000, is staying put through the end of April, then becomes the chairman and CEO at UMG Nashville on May 1. In his new gig, he inherits a larger roster that includes Sugarland, George Strait, Shania Twain, Josh Turner, and Easton Corbin.

An unresolved question is what the future plans are for outgoing Universal Nashville chief Luke Lewis, (pictured below with Mercury Nashville/19 Recordings artist and American Idol runner-up Lauren Alaina) who’s been in charge of major labels for 20 years, far longer than any other exec in town.

One thing that’s certain, though some are loathe to believe it: It’s a friendly transition. “Luke wanted out,” insists one mover-and-shaker who’s been close to Lewis, 64. “He’s done this long enough, and he has two young kids at home. I think he just wants to run an independent label or something now. He wanted Mike as his successor.” Adds another source: "Luke and Mike are friends. It was Luke's idea to bring him in and it came months before Universal was even contemplating a bid to buy EMI." 

PHOTOS: Top 10 Highest Paid Music Artists

Although the news came as a shock to most Capitol and Universal staffers, it was known to top insiders around Nashville for a while. A story going around has it that Sony Nashville head Gary Overton was flummoxed recently when both Dungan and Lewis showed up at a wine tasting event at his house, fearful that the two execs would be feuding over the transition-to-be. But the two label chiefs proceeded to surprise everyone in attendance by sitting down together and chatting up a storm.

The country industry will be pleased to see an amicable changing of the guard, since there is some bad blood left over from the last major Music Row transition, when Joe Galante left the long-time leadership of Sony without the company throwing him a farewell party, the sort of oversight that doesn’t go down well in as supposedly chummy  a town as Nashville.

Dungan leaves Capitol at a fairly convenient time, when most of its artists are between albums or on a second or third single off their latest projects – like Urban, whose "You Gonna Fly" is currently No. 1 on the Billboard country chart, and Bentley, whose "Home" is bulleted at No. 4.

The imminent release most in need of the Dungan touch is Alan Jackson’s first album for the label, which is due out in May. Dungan is expected to heavily work Jackson’s new single, “So You Don’t Have to Love Me Anymore,” before he makes the move.

Although Lewis and Galante were long the two titans in town, the most buzz-generating label heads in the last couple of years have been Dungan and Big Machine upstart Scott Borchetta. Dungan is credited with the unlikely success of reintroducing Hootie & the Blowfish’s Rucker as a country star, as well as establishing Urban and Lady Antebellum as superstars and resurrecting Trace Adkins’ career.

“When times were tough for EMI a few years ago and they were pressuring Mike big-time to put out albums earlier than he thought they were ready, he never wavered or caved, ever,” said one former Capitol exec who still admires Dungan. “He fought for his label team and artists against EMI at times, and kept everyone feeling like a family, even in hard times. He’s one of the most-liked guys in this town – and, he can cuss up a storm.”

Dungan may have to put his likeability to the test, though, if he’s forced to make some hard decisions upon getting to Universal. “He’s going to have to make a lot of roster cuts, especially if the merger happens,” says a manager, “and that’s the kind of stuff he really, really hates.”

http://www.hollywoodreporter.com/news/mike-dungan-universal-music-nashville-luke-lewis-296062



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Universal Music Group buys EMI Music


Opposition To UMG Purchase Of EMI Gets Louder, Universal Says They 'Misunderstand The Law'

June 15, 2012 at 3:56 AM (PT)

Opposition continues to grow against the proposed UNIVERSAL MUSIC GROUP's proposed $1.9 billion purchase of EMI MUSIC, with two consumer-advocate organizations again voicing their opposition -- and one starting an online petition against the deal.

THE CONSUMER FEDERATION OF AMERICA and PUBLIC KNOWLEDGE "had already made their position known through letters to the leaders of the subcommittee and to the FEDERAL TRADE COMMISSION, which is reviewing the deal in the UNITED STATES," reports THE NEW YORK TIMES. "But the report represents their most detailed argument against the deal, saying that an enlarged UNIVERSAL 'will have a strong incentive and increased ability to exercise market power, particularly in undermining, delaying or distorting new digital distribution business models, in a market that has been a tight oligopoly for over a decade.' The report also argues that the merger could lead to the kind of price fixing and collusion that the Justice Department has accused APPLE and five book publishers of in the e-book market. When the groups first made that comparison a month ago, UNIVERSAL said it 'completely misunderstands the law'."

"This is the same song sung to a different melody," UMG said in a statement. "There's nothing new here as C.F.A.'s analysis continues to vastly overstate market concentration. Indie labels are a vibrant and growing force accounting for nearly 30% of the market. The music industry is intensely competitive and barriers to entry have evaporated in today's digital environment."

The Senate Antitrust Panel has a meeting scheduled for next THURSDAY, JUNE 21st, which will feature UNIVERSAL Chairman LUCIAN GRAINGE and EMI GROUP CEO ROGER FAXON to testify for the merger. LIVE NATION Chairman IRVING AZOFF is also scheduled to support the deal.

Three opponents of the deal are set to appear. WARNER Director EDGAR BRONFMAN, JR, BEGGARS GROUP Chairman MARTIN MILLS and PUBLIC KNOWLEDGE Pres. GIGI SOHN.

http://www.allaccess.com/net-news/archive/story/107186/opposition-to-umg-purchase-of-emi-gets-louder-univ



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Report: UMG To Spin Off Labels To Indies To Get Approval On EMI Purchase

July 23, 2012 at 3:40 AM (ET)

umgemi.jpg

Deal Approval Grinds On

UNIVERSAL MUSIC GROUP reportedly plans to sell three music labels currently owned by EMI MUSIC to independent labels rather than other major labels, as part of getting regulatory approval for its purchase of EMI MUSIC.

REUTERS reports "UNIVERSAL wants to shut out its closest competitors, SONY MUSIC and WARNER MUSIC, from the bidding process for the assets and is instead courting independent labels, music publishers, private equity groups and wealthy individuals. The music group was trying over the weekend to agree on a package of concessions with EUROPEAN UNION competition regulators, which wants to circulate the proposals this week."

UMG Gets More Time To Close The Deal

Meanwhile, U.K.'s THE GUARDIAN reports UMG "has gained two months' more breathing space as it battles to persuade the European commission to approve its £1.2bn takeover of EMI. It had previously been thought that UNIVERSAL's parent company VIVENDI would have to hand over the £1.2bn to EMI owner CITIGROUP in SEPTEMBER, 10 months after the deal was announced, regardless of whether the takeover had been cleared."

The report claims, at CITIGROUP's request, the deadline has now been pushed to the end of NOVEMBER.

http://www.allaccess.com/net-news/archive/story/108386/report-umg-to-spin-off-labels-to-indies-to-get-app



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UMG Willing To Sell Parlophone To Get EMI Deal Done

Roger Faxon Lays Out The Current Offer

July 30, 2012 at 3:58 AM (PT)

Last week (NET NEWS 7/25), ALL ACCESS reported UNIVERSAL MUSIC GROUP was considering selling three music labels currently owned by EMI MUSIC to independent labels rather than other major labels, as part of getting regulatory approval for its purchase of EMI MUSIC. Now, the WALL STREET JOURNAL reports "UNIVERSAL MUSIC GROUP has offered to sell PARLOPHONE RECORDS as part of its long-delayed proposal to clinch regulatory approval for its planned $1.9 billion acquisition of EMI MUSIC."

The reports identifies BERTELSMANN AG as the potential buyer. BERTELSMANN left the record business several years ago, but has been rumored to be involved in negotiations for several recent label and publishing sales.

The assets UMG is proposing to sell "generate roughly eu250 million to eu300 million ($308 million to $369 million) in annual revenue, according to people who have read the company's filing," notes THE JOURNAL. "That represents 16% to 19% of the nearly £1.2 billion ($1.9 billion) revenue that EMI MUSIC posted in 2010, the last time it reported a figure."

Roger Faxon Lays Out The Current Offer

EMI CEO ROGER FAXON sent a note to all staffers on FRIDAY, laying out the current proposal and state of the sale to UMG. In it, her wrote:

"In the U.K., an entity composed of the rosters and catalogues of PARLOPHONE (excluding THE BEATLES, both as a group and individually), MUTE, CHRYSALIS (excluding the ROBBIE WILLIAMS catalogue) and ENSIGN would be sold. Included in that disposal would also be the PINK FLOYD catalogue and the recently concluded new deal with DAVID GUETTA, along with his catalogue. Note that these disposals only relate to exploitation of this repertoire within the EEA. EMI CLASSICS and VIRGIN CLASSICS would also be divested in the EEA.

EMI's share of the NOW brand and compilation business in the EEA would also be sold. However UNIVERSAL would keep its share and participation in the NOW compilation venture. The proposal also includes the divestment of a number of EMI's operating businesses in Continental EUROPE. Those local operating companies are EMI FRANCE, EMI BELGIUM, EMI CZECH REPUBLIC, EMI POLAND, EMI PORTUGAL, EMI SWEDEN and EMI NORWAY.

UNIVERSAL is also proposing to divest some its own businesses, principal among which are SANCTUARY, CO-OP, and UMG GREECE plus several European jazz labels. They would also commit to terminate or not to bid for a number of high-profile European licenses for major Anglo-American and domestic repertoire, namely DISNEY RECORDS, HOLLYWOOD RECORDS, MINISTRY OF SOUND and RESTOS DU COEUR IN FRANCE.

THE FINANCIAL TIMES has the full letter here.

http://www.allaccess.com/net-news/archive/story/108605/umg-willing-to-sell-parlophone-to-get-emi-deal-don



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Two U.S. Senators Say UMG-EMI Deal 'Presents Significant Competition Issues

EU Regulators Reach Out To UMG Competitors

August 6, 2012 at 3:55 AM (PT)

UNIVERSAL MUSIC GROUP's proposed $1.9 billion takeover of EMI MUSIC, got some harsh words from leaders of a Senate committee, who sent a letter FRIDAY (8/4) to the FEDERAL TRADE COMMISSION, writing that the deal "presents significant competition issues," and asking the agency to examine it closely.

"We believe this proposed acquisition presents significant competition issues that merit careful F.T.C. review to ensure that the transaction is not likely to cause substantial harm to competition in the affected markets," the letter signed by WISCONSIN Senator HERB KOHL and UTAH Senator MIKE LEE. Democrat KOHL is the chairman of the Judiciary subcommittee on antitrust issues, and Republican MIKE LEE is the subcommittee’s ranking minority member.

"In the course of this review, we also urge the commission to be mindful of the changes in the music industry in the last decade, particularly the shift to online distribution as the preferred way consumers purchase music," the senators added.

THE NEW YORK TIMES reports, "The letter reviews many of the major concerns raised by critics of the deal, like the possibility that it would give an expanded UNIVERSAL an unfair advantage in negotiating deals with digital services and in dealing with retailers of CDs, which still represent a majority, albeit a shrinking one, of the industry’s sales."

UNIVERSAL responded in a statement, writing "We appreciate the points raised in the joint letter from Chairman KOHL and Ranking Member LEE, as well as the committee's recognition of the historic changes in the music industry over the past decade. Since this deal was announced, we have worked closely with the FEDERAL TRADE COMMISSION to address many of these issues, and will continue to do so. Our investment in EMI will create more opportunities for new and established artists, expand music output and support new digital services. We remain confident of earning regulatory approval."

The deal also continues to be scrutinized in EUROPE, where MARKE****CH.COM reports "anti-trust regulators are asking music industry rivals whether VIVENDI SA's UNIVERSAL MUSIC GROUP is proposing to sell off enough of its U.S. business."

The EU commission has extended its deadline for a decision on the merger to SEPTEMBER 27th.

A representative for the commission noted that it was normal procedure to send out questionnaires of this nature. "It's quite standard and is used to assess the impact of a merger," commission spokesman RYAN HEATH told DOW JONES NEWSWIRES.

http://www.allaccess.com/net-news/archive/story/108858/two-u-s-senators-say-umg-emi-deal-presents-signifi



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Could Required Cuts In UMG/EMI Deal In Europe Be A Deal Breaker?

August 10, 2012 at 4:02 AM (PT)

In a meeting YESTERDAY (8/9), EU Regulators told UNIVERSAL MUSIC GROUP the cuts they've offered in order to get approval for purchasing EMI MUSIC don't go far enough. Some analysts feel the cuts the regulators want go so far as to jeopardize the deal.

BLOOMBERG reports UMG "and European Union regulators met YESTERDAY to discuss if the offer to sell 60% of EMI's European assets satisfies competition concerns, according to a person familiar with the matter. Some third parties who looked at the proposals under an EU review process say they don't go far enough in reducing the presence of the world's largest record company in some European markets, according to two other people."

"If UNIVERSAL MUSIC has to give up the global rights for everything it would push the deal toward unprofitability," said INFORMA MEDIA & TELECOMS Analyst SIMON DYSON told BLOOMBERG. "UNIVERSAL has invested a lot of money into this deal and if it doesn't go through, then they have to sell EMI, and companies won't offer them anything near what they paid for it."

http://www.allaccess.com/net-news/archive/story/109059/could-required-cuts-in-umg-emi-deal-in-europe-be-a



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EU Approval For UMG-EMI Deal Seems Imminent

September 6, 2012 at 4:05 AM (PT)

As reported by ALL ACCESS last week (NET NEWS 8/31), a vote is expected in the EUROPEAN UNION this month on approving UNIVERSAL MUSIC GROUP's $1.9 billion bid for EMI MUSIC. According to a report in BUSINESSWEEK.COM, citing three people familiar with the situation, "A positive vote on the deal by the national agencies may allow the EUROPEAN COMMISSION to rule on the purchase as soon as a SEPTEMBER 19th meeting, said two of the people, who couldn't be identified because the process isn’t public."

THE FINANCIAL TIMES now confirms "Barring any further mishaps, EMI -– the British music company behind THE BEATLES, THE SEX PISTOLS and KATY PERRY -– will shortly pass into French hands. If, as expected, European competition commissioner JOAQUÍN ALMUNIA clears the deal, with concessions, by SEPTEMBER 27th, UNIVERSAL and VIVENDI will no doubt celebrate. However, their victory is looking increasingly hollow."

The report notes the concessions UMG has to make to get approval to acquire EMI MUSIC, and notes the deal leaves, "CITIGROUP as arguably the biggest winner, as the bank will recover all of the money it lent Mr. HANDS [EMI's previous owner]. The loan led to five years of embarrassment after the deal went wrong, and costly legal fees for successfully defending Mr. HANDS' claims. UNIVERSAL's legal bills for its BRUSSELS battle will not be small, either. It seems it will be bankers and lawyers -– not music industry suits -– who are singing as EMI is broken up for good."

http://www.allaccess.com/net-news/archive/story/109962/eu-approval-for-umg-emi-deal-seems-imminent



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EU Approves UMG Buyout Of EMI Music

September 21, 2012 at 4:23 AM (PT)

UNIVERSAL MUSIC GROUP got EU regulatory approval TODAY (9/21) to buy EMI MUSIC for $1.9 billion after agreeing to sell record labels that bring in nearly a third of the British company's revenues.

The merger has been cleared in several other countries, including JAPAN and CANADA.The deal is still under review in AMERICA by the FEDERAL TRADE COMMISSION.

UNIVERSAL will sell assets that amount to 30% of EMI's revenues, including the label PARLOPHONE, home to bands such as COLDPLAY and QUEEN. REUTERS notes THE BEATLES will not be included in the disposals.

"Also on the block will be the MUTE, ENSIGN and CHRYSALIS labels" notes REUTERS, "EMI CLASSICS, VIRGIN CLASSICS, EMI's share of the 'NOW! That's What I Call Music' compilation business, and EMI units in FRANCE, SPAIN, BELGIUM, DENMARK, THE CZECH REPUBLIC, POLAND, PORTUGAL, SWEDEN and NORWAY."

"The very significant commitments proposed by UNIVERSAL will ensure that competition in the music industry is preserved and that European consumers continue to enjoy all its benefits," wrote EU Competition Commissioner JOAQUIN ALMUNIA.

http://www.allaccess.com/net-news/archive/story/110574/eu-approves-umg-buyout-of-emi-music



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Multiple Reports Have Columbia Co-Chair Steve Barnett Joining UMG To Head The Newly Acquired EMI Label

October 8, 2012 at 3:41 AM (PT)

The rumbles started getting louder FRIDAY (10/5), and it's looking as if UNIVERSAL MUSIC GROUP will hire COLUMBIA Co-Chairman STEVE BARNETT to move across the street and take over their newly acquired EMI labels. THE NEW YORK TIMES reports the "talks are still in progress," but that "BARNETT has already resigned from SONY."

It's assumed BARNETT would hold the title of Chairman of THE CAPITOL RECORDS GROUP, overseeing EMI's American labels, which include CAPITOL, VIRGIN and BLUE NOTE.

BARNETT's background is that of an artist manager, and he counted AC/DC as a client.

He has been with SONY since 1996, when he first joined EPIC.

http://www.allaccess.com/net-news/archive/story/111093/multiple-reports-have-columbia-co-chair-steve-barn



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UMG Nashville Makes Changes Official

October 29, 2012 at 10:13 AM (PT)

As reported in ALL ACCESS on FRIDAY (NET NEWS 10/26), restructuring at UNIVERSAL MUSIC GROUP/NASHVILLE has taken place, with the official announcement TODAY (10/29), from Chairman/CEO MIKE DUNGAN. The changes follow UMG’S acquisition of CAPITOL/EMI NASHVILLE.

Each of these appointments will report to DUNGAN: Former CAPITOL SVP/COO, TOM BECCI, will assume the same post at UMG. UMG SVP of A&R, BRIAN WRIGHT will continue as SVP/Head Of A&R for the UMG Group, Former CAPITOL SVP Marketing, CINDY MABE, will assume broad based responsibility as SVP Marketing at UMG.

UMG SVP/Head Of Promotion, ROYCE RISSER, will oversee all promotion efforts in the new UMG four-imprint structure, which includes MERCURY, MCA, EMI and CAPITOL.

"Our new company embodies the very best of both Universal and EMI," said MIKE DUNGAN. "The integration of these two great companies presents a rare opportunity to create a NASHVILLE-based music entertainment organization that is well positioned for creative innovation and profitable growth.”

“TOM, BRIAN, CINDY and ROYCE represent the very best in creative leadership and business management,” added DUNGAN. “Throughout each of their careers, they have displayed a real track record of success and innovation, and will play a key role in ensuring the smoothest possible transition for everyone involved. I have no doubt that they will help us maintain our position as the world’s leading country music company for years to come.”

Additional management appointments are as follows: CAPITOL SVP Promotion STEVE HODGES will now assume responsibility for the CAPITOL promotion team, MERCURY RECORDS VP Promotion DAMON MOBERLY and MCA RECORDS VP Promotion VAN HAZE, will continue in their respective roles, JIMMY RECTOR has been appointed VP EMI RECORDS Promotion, UMG VP Radio Marketing, KATIE DEAN, will continue in that role for all four labels, CAPITOL VP SHANE ALLEN will now become UMG VP Promotion for all four labels, LORI CHRISTIAN has been appointed UMG VP Media Marketing, and DAWN GATES has been appointed UMG VP Digital Marketing.

http://www.allaccess.com/net-news/archive/story/111931/umg-makes-changes-official



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