Big news coming out of the Big Leagues today, as EMI is announcing the merger of its Capitol and Virgin labels to form the Capitol Music Group. While both Capitol and Virgin will remain as imprints, Capitol’s CEO Andy Slater was the odd man out, as Virgin’s CEO Jason Flom will now be overseeing the Capitol Music Group as chairman and CEO. Here’s an excerpt of the memo sent out by EMI Chairman Eric Nicoli:
“Today we are announcing the merger of EMI’s Capitol and Virgin labels in the U.S. to form the Capitol Music Group, a front-line pop, rock and urban label group. The combined artist roster, talent and market share of this new label group establishes Capitol Music Group as one of the U.S. music industry’s leading labels.”
You can read the entire thing at the link above.