Parlophone, home to COLDPLAY, THE PET SHOP BOYS and TINA TURNER, accounts for about half of a package of labels with a valuation of about 400 million pounds ($635 million), according to a person familiar with the process who asked not to be identified because it is confidential.
A data room detailing the assets for sale, artist rosters and financial information will be opened this week for entities that have expressed interest, including Warner Music Group, BMG Rights and Sony Music Entertainment, the person said. Other assets being offered include the Sanctuary label, home to THE KINKS and MOTÖRHEAD, and the Mute label, which represents MOBY.
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