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Confirmed: Universal sells Co-Op - and racks up £530m from EMI asset sales

Confirmed: Universal sells Co-Op - and racks up £530m from EMI asset sales | Kill The Record Industry | Scoop.it

Universal parent Vivendi has confirmed that it has finalised a deal to sell Co-Operative Music. Music Week understands that [PIAS] has been successful in its acquisition bid for the rival distribution and services company.

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We're better off with PIAS taking over Co-OP. Let Universal be Universal...

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Co-Op sale to PIAS: indies object

Co-Op sale to PIAS: indies object | Kill The Record Industry | Scoop.it

Universal is about to sell Cooperative Music to PIAS according to a clutch of independent labels who have written to protest against the move.

In a letter sent to Music Week, a number of indie label bosses affiliated with Co-Op, including Heavenly Recordings’ Jeff Barrett and Lucky Number Music’s Stephen Richards in the UK, have expressed their ‘alarm’ at the pending sale.

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