Sir Lucian Grainge

Billie Eilish and others play annual Universal Los Angeles event in Grammy week

SMG, backed by Haim Saban, will be distributed in the US by Caroline

"This is an exciting development reflecting a strong validation of our business strategy, our incredible team and your excellent work."

MBW estimates that Universal, Sony and Warner are now collectively worth just shy of $89bn

"It is not clear to us that the fire in the LA storage facility should have any impact on either the valuation of UMG or the sale process."

"I will ensure that the senior management of this company, starting with me, owns this."

Both exec join UMG as Senior Vice President, Artist Development

Google tried to buy 50% of Sony/ATV a few years ago. Could it come again for a rightsholder?

"[UMG] owns undermonetized, must-have, global content that is strategic to the tech giants and can’t be replicated."

Major makes bullish claim at Los Angeles Grammy event

The sale of up to 50% of UMG could tempt Sony and Warner to consider their options

"UMG continues to be, without question, the most successful company in the history of the music industry."

'They have generously agreed to this, at what they believe will be much better terms than paid out previously by other major labels.'

Direct agreement signed for the world

Rob Stringer, Camila Cabello, Sir Lucian Grainge, Max Lousada and many more pay tribute to Syco chief