February 7, 2013 | 12:48pm ET
According to Billboard, Warner Music Group has acquired the Parlophone Label Group from Universal Music Group for £487 million (around $765 million).
The UK-based Parlophone is home to the likes of Pink Floyd, Coldplay, Gorillaz, Iron Maiden, and formerly Daft Punk. Universal acquired Parlophone through its merger with EMI last fall, but was forced to sell off the label in order to meet anti-trust concerns in Europe and America.
