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Capitol Records, LLC is an American record label part of the Capitol Music Group and a wholly owned division of Universal Music Group . The label was founded as the first West Coast-based record label in the United States in 1942 by three industry insiders named Johnny Mercer, Buddy DeSylva and Glenn Wallichs. In 1955, the label was acquired by the British music conglomerate EMI as its North American subsidiary. EMI was later acquired by Universal Music Group in 2012 and was merged with the company in 2013, making Capitol Records and the Capitol Music Group both a part of the Universal Music Group. Capitol Records' circular headquarter building located in Los Angeles is a recognized landmark of California.History1940sCapitol Records was founded by songwriter Johnny Mercer in 1942, with the financial help of fellow songwriter and film producer Buddy DeSylva and the business acumen of Glenn Wallichs, the owner of Wallichs Music City. Mercer first raised the idea of starting a record company while golfing with Harold Arlen and Bobby Sherwood. By 1941, Mercer was an experienced songwriter and a singer with multiple successful releases. Mercer next suggested the idea to Wallichs while visiting his record store. Wallichs expressed interest in the idea and the pair negotiated an agreement whereby Mercer would run the company and identify their artists, while Wallichs managed the business side.