Capitol Music Group is a major American record label, owned by EMI. It was formed in February 2007 as a merger of Virgin Records and Capitol Records in an effort by EMI to restructure and save an average of $217 million yearly.^[1] Both Virgin Records and Capitol Records, however, will remain imprints of the label.^[2] Virgin Records CEO Jason Flom was named the head of the division, with Capitol Records CEO Andy Slater resigning after receiving a pension reportedly worth more than $15 million.^[3] As the head of the label, Flom will report directly to EMI Group CEO Eric Nicoli.^[4] As a result of the merger, many bands were dropped from both Virgin Records and Capitol Records.^[5] This does not adequately cite its references or sources. ... The EMI Group is a major record label, based in Hammersmith in London, in the United Kingdom. ... This article or section does not adequately cite its references or sources. ... See also: 2000s in music. ... Virgin Records is a British recording label founded by British entrepreneur Richard Branson, and Nik Powell in 1972. ... Capitol Records is a major United States-based record label, owned by EMI. // The Capitol Records company was founded by the songwriter Johnny Mercer in 1942, with the financial help of movie producer Buddy DeSylva and the business acumen of Glenn Wallichs, (1910-1971) (owner of Music City, at the...

References

1. ^ USA Today. January 26, 2007; EMI to merge Capitol and Virgin labels; retrieved April 3, 2007
2. ^ Variety. January 25, 2007; EMI merging Capitol, Virgin; retrieved April 3, 2007
3. ^ New York Times. January 26, 2007; EMI Merging Record Labels and Ousting Capitol’s President; retrieved April 3, 2007
4. ^ Billboard Magazine. January 25, 2007; Capitol, Virgin Merged To Form Capitol Music Group; retrieved April 3, 2007
5. ^ Associated Content. February 22, 2007; Capitol Records Drops Artists, Merger; retrieved April 3, 2007

See also

• List of record labels
• Capitol Records
• Virgin Records
• EMI