LONDON - Vivendi's Universal Music Group said Friday that it has completed the $1.9 billion acquisition of EMI's recorded music arm.
"This is a next step towards ensuring the health of our industry," said UMG chairman and CEO Lucian Grainge. "EMI is finally returning to people who have music in their blood. We are acquiring incredible labels and a roster of stellar talent, including top-selling artists like Katy Perry, Lady Antebellum, The Beatles and The Beach Boys. We remain true to our vision of investing in EMI, growing the company as a vibrant source of new music, offering consumers more choice and supporting the growth of online music services."