Variety reports: “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.”

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