Short version: it's insane.
Warner Music Group will now control the artists and catalogues of classical labels EMI Classics and Virgin Classics, it has been announced.
All artists and catalogues on the Virgin Classics label will now be looked after by the newly-revived Erato Label, while artists and catalogues previously on EMI Classics will now come under the banner of Warner Classics.
A statement on Twitter from the EMI Classics account broke the news this afternoon. According to the statement, "Following their acquisition of EMI Classics and Virgin Classics, Warner Music Group (WMG) has announced the first step in their plans to bring the artists from these highly respected label into the Warner Music Family."
It continues: "This move marks the next editing chapter and new momentum for these renowned artists and legendary catalogues within WMG, where there is - and will continue to be - a deep focus on classical repertoire."
The news comes after the sale of EMI Classics and Parlophone to Warner Music Group back in February. Until now, it has been unclear exactly what the role of the EMI and Virgin Classics labels would be as part of WMG.
At the time of that sale, Music Week reported that an internal memo from WMG CEO Steve Cooper confirmed that a new brand would be created to sustain the acquired catalogues: "Our acquisition of the renowned labels, EMI Classics and Virgin Classics, will open up huge scope for us to reinvigorate our approach to classical music, starting with the development of a new brand for our activities in this genre."
Current artists on EMI Classics include trumpeters Alison Balsom and Tine Thing Helseth, pianist Leif Ove Andsnes, Sir Simon Rattle and the Berlin Philharmonic, and soprano Angela Gheorgiou.