Lucian Grainge Music CEO Strategy Lucian Grainge

Universal Launches Virgin Music Group, Including Virgin, Ingrooves and Newly Acquired Mtheory Artist Partnerships

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variety.com

Jem Aswad Senior Music Editor Universal Music Group has announced the launch of the Virgin Music Group, a new global division comprised of Virgin Music Label & Artist Services, Ingrooves Music Group and Mtheory Artist Partnerships.

The third element is new to UMG: It has acquired Mtheory’s bespoke label division, Mtheory Artist Partnerships, although its manager services business is not part of the transaction and will remain wholly independent.

Terms of the deal were not disclosed. The Virgin Music Group, which brings the company’s label and artist services businesses under one unit, will be overseen by Mtheory founders JT Myers and Nat Pastor as co-CEOs, who will report directly to UMG Chairman and CEO Lucian Grainge.

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