UMG Sells U.K., French Music/Video Clubs

Universal Music Group has sold its U.K. mail order music and home video club Universal Group Direct (U.K.) -- which trades as Britannia -- and its French equivalent DIAL to U.S.-based mergers and acqu

LONDON -- Universal Music Group has sold its U.K. mail order music and home video club Universal Group Direct (U.K.) -- which trades as Britannia -- and its French equivalent DIAL to U.S.-based mergers and acquisitions company Platinum Equity. No financial details have been released.

Sources said Platinum intends to operate the two clubs as a single, standalone business. The clubs have approximately two million combined active members, and are Europe's largest club-based marketers of DVDs, CDs and video games.

Platinum specializes in the merger, acquisition and operation of services and solutions companies.

UMG declined to comment on the deal.


By Sam Andrews

LONDON -- Universal Music Group has sold its U.K. mail order music and home video club Universal Group Direct (U.K.) -- which trades as Britannia -- and its French equivalent DIAL to U.S.-based mergers and acquisitions company Platinum Equity. No financial details have been released.

Sources said Platinum intends to operate the two clubs as a single, standalone business. The clubs have approximately two million combined active members, and are Europe's largest club-based marketers of DVDs, CDs and video games.

Platinum specializes in the merger, acquisition and operation of services and solutions companies.

UMG declined to comment on the deal.

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