MUMBAI: Universal Music Group (UMG) intends to acquire V2 Music Group, Ltd, which includes independent music company V2 Records.
Universal Music International (UMGI) chairman and CEO Lucian Grainge said, â€œV2 is recognised as a pioneer in independent music with a diverse artist roster that spans many musical genres. As such, V2â€™s roster will complement our existing business. By applying our expertise in artist development and in the digital space, weâ€™ll be able to maximize and enhance the opportunities for its artists even further.â€
Europe based V2 is home to artists such as Stereophonics, Paul Weller, Anais, Isabelle Boulay and Henri Salvador. In addition, V2 owns and operates Co-Operative Music, its in-house licensing organisation that includes independent labels as Bella Union, City Slang and Wichita Recordings; and artists such as Bloc Party, Peter Bjorn and John, and Go Team! among many others.