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Warner Music Group Pays $765 Million For Parlophone Label Group

The deal, however, did not include Parlophone's Beatles' collection.

Warner Music Group paid $765 million in cash to acquire Parlophone Label Group from Universal Music Group, WMG announced on Thursday. But the deal, which includes the rights to many of Parlophone's major recordings including Pink Floyd, Duran Duran and Coldplay does 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 user starbright]