Universal Music to sell Parlophone to Warner Music for 487 million pounds

REUTERS - Vivendi SA's Universal Music Group said it has agreed to sell its Parlophone Label Group to Warner Music Group for 487 million pounds.

Parlophone Label's artists include Air, Coldplay, David Guetta and Iron Maiden.

Warner Music Group is owned by privately held Access Industries Inc.

(Reporting by Neha Alawadhi in Bangalore; Editing by Supriya Kurane)