While it still has to get the green light from the European Commission, Billboard.biz looks at how Warner Music Group’s likely purchase of Parlophone from Universal – the sale was mandated by Universal’s EMI agreement with the EU – will affect the two giants:

In an unexpected and strong move, the Warner Music Group has won the auction for the Parlophone Label Group assets with a £487 million ($762 million) bid. The deal is expected to close mid-2013.

The deal will give the Warner Music Group, the smallest of the three major label groups, another $400 million in annual revenue, another 1.5%-2% in U.S. market share and catalogs of such artist as Coldplay, Radiohead, Kate Bush, David Guetta, Daft Punk, Sinead O’Connor, Tina Turner, Tinie Tempah and Jethro Tull, among many others.

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