Branson considers buying back record company

Richard Branson is considering buying back Virgin Records more than 40 years after founding the business that spawned his empire.

Universal Music, the world’s biggest recorded music firm, is reportedly mulling a sale of the business to persuade regulators to give the green light to its £1.2bn (€980m) deal for EMI, whose acts include Coldplay and The Beatles.

Branson today confirmed he would be interested in recapturing the firm he sold to Thorn EMI for £510m (€415m) in 1992 to help fund Virgin Atlantic’s battle with British Airways, and whose acts now include Gorillaz.

He tweeted: “Looking into buying back Virgin Records – a wonderful opportunity to recreate a dynamic independent label.”

It has been reported that the entrepreneur is in talks to team up with Patrick Zelnik to merge Virgin with his French label Naive Records although no formal approach had been made to Universal, owned by Vivendi.