Tag Archive for Lucian Grainge

Did Warner Overpay for Parlophone?

WMG owner Len Blavatnik shows off the jewelry that the Vivendi board gave him at the closing of the Parlophone deal.

Less than 2 weeks ago the Warner Music Group purchased Parlophone Records from Vivendi for $765 million in cash, however sources familiar with the Vivendi end of the deal say that the French conglomerate was prepared to take much less. According to a source “Vivendi would have been very happy with a sale price somewhere in the $500 million range. That’s what they were expecting.”

Where’s Rick?

Hagrids ride

While everyone at 550 Madison Ave. eagerly awaits the exit of Rick Rubin, speculation has risen that the barefoot producer’s next stop will be Universal Music. Uni owns Def Jam Records, co-founded by Rubin and Russell Simmons, and could conceivably…

Warner, Sony Picking Up The Pieces

christmas-bonus

Lucian Grainge and Universal Music’s surprise acquisition of EMI Music big-footed the competition. Now Warner Music, desperate to stay alive after posting huge losses, is in talks with Sony for a distribution deal. The once prestigious super hip label is now an embarrassing shadow of its former self, the caretakers having sullied a legacy of artistic integrity.