Warner Music Group paid $765 millionin cash to acquire Parlophone Label Group from Universal Music Group,WMGannounced on Thursday. But the deal, which includes the rights to many of Parlophone’s major recordings includingPink Floyd, Duran Duran andColdplaydoes not include the rights to the Beatles catalog,the BBC reported.
Parlophone was formerly a part of EMI music, but EMI sold it off in 2012 when it was taken over by Universal.
[Photo by Flickr userstarbright]