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Blavatnik picks up Parlophone assets

Label seeking $820 million loan, will re-brand classical music approach

The music executive has worked at both EMI and Sony previously

BMG in process of re-building their music assets

The legendary UK label has been acquired in an all cash deal.

A new head for the label will be appointed soon

Label being integrated into Universal

Retrenchments expected as company is merged into Universal

Label to report to Universal's George Ash until replacement is found

Indie label lobby group ask Euro Commission to step in