Universal Music could turn Abbey Road Studios into a London base for Capitol Records, according to the Sunday Times.
As previously reported, having been forced to sell off EMI’s most famous British asset Parlophone to get regulator approval for its purchase of the wider EMI recorded music business, Universal is planning to launch a UK wing of Capitol, the former British major’s most famous American label.
Capitol UK could launch this summer and, echoing the label’s famous LA-base, the Capitol Records Tower that also houses one of the city’s most famous studio complexes, the Times reckons plans are afoot to base the British version of the label in London’s most famous studio building.
With deals now done (regulator green light pending) for all those EMI assets in Europe Universal was forced to sell, including Parlophone, Universal chief Lucian Grainge is expected to reveal his plans for those European assets he got to keep this week, with a new Universal division expected to be created utilising EMI’s other big brand, Virgin Records.
UPDATE: UMG has now announced that it will launch Capitol UK, as well as the merger of the Virgin and Mercury labels in the UK. Read more here.