Universal To Acquire V2
Universal Music Group is set to acquire the V2 Music Group from Morgan Stanley. Terms of the deal, which is subject to regulatory approval, have not been disclosed. V2 was founded by Richard Branson in 1996, but Morgan Stanley, which provided financing for the company, ultimately wound up owning a 95% stake in the label.
V2’s roster includes Stereophonics, Paul Weller, Anais, Isabelle Boulay and Henri Salvador. In addition, V2 owns and operates Co-Operative Music, its in-house licensing organization that includes such independent labels as Bella Union, City Slang and Wichita Recordings, and such artists as Bloc Party, Peter Bjorn and John, and the Go Team!.
V2 sold off its V2 North American operation to Sheridan Square. Universal has been distributing the label in Ireland and the U.K. since July 2006.