EMI Group Limited (originally an initialism for Electric and Musical Industries, also referred to as EMI Records Ltd. or simply EMI) was a British Transnational conglomerate founded in March 1931 in London. At the time of its break-up in 2012, it was the fourth largest business group and record label conglomerate in the music industry, and was one of the big four record companies (now the big three); its labels included EMI Records, Parlophone, Virgin Records, and Capitol Records, which are now owned by other companies.