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Record label giant, Universal Music, is set to sell off Parlophone, home to Coldplay and Gorillaz.
The move comes as the industry behemoth attempts to overcome findings in a report by the European Commission, which expressed serious concerns over Universal's dominance in the music market. Universal had initially planned to sell several smaller imprints, but is instead said to be offering Parlophone for purchase.
Universal is said to be setting in motion plans to sell most of the hugely successful label - and potentially acts such as Coldplay along with it - while retaining artists such as The Beatles.
Other artists on the label set to feel the impact of the sale including Blur and Kylie Minogue. BMG music has already expressed an interest in purchasing Parlophone.
Below: Coldplay live in France
