Title: Universal Records (Philippines)
Content:  Universal Music Group cannot use the Universal name in the Philippines as URPI has the rights for the said trade name. With this, UMG currently makes business in the Philippines as MCA Music, Inc., the former global trade name for UMG.
Title: UMG Philippines
Content:  UMG Philippines Inc. (previously MCA Music, Inc.) is a Philippine regional branch of the multinational Universal Music Group. The company retains the MCA name on legal purposes because of a trademark dispute with an unrelated label known as Universal Records, which preempted the rights to the word "Universal" for recorded music in the Philippines. However, the company has adopted the moniker "MCA/Universal", just like the US home video unit of Universal Pictures from 1990-1997, to simplify identification, even though no formal "Universal" branding is exercised. Despite the naming, the label is known outside the Philippines as Universal Music Philippines. MCA Music Inc. also released video karaoke VCDs versions of the label's songs in the Philippines.
Title: Universal Music Group
Content:  Universal Music Group N.V. (often abbreviated as UMG and referred to as just Universal Music) is a Dutch–American multinational music corporation. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. The biggest music company in the world, it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. Tencent acquired ten percent of Universal Music Group in March 2020 for €3 billion  and acquired an additional ten percent stake in January 2021. Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. The company went public on September 21, 2021 at a valuation of €46 billion. In 2019, Fast Company named Universal Music Group the most innovative music company and listed UMG among the Top 50 most innovative companies in the world and "amid the music industry's digital transformation, Universal is redefining what a modern label should look like." UMG has signed licensing agreements with more than 400 platforms worldwide.
Title: UMG Philippines
Content:  Seagram's and was merged into MCA Inc., and PolyGram Music Group was merged with MCA Music Entertainment to become Universal Music Group. After the merger, PolyCosmic Records was reincorporated as MCA Music Inc. (Philippines). In 2006, Ricky Ilacad was named the Managing Director and is currently the CEO. MCA Music has a partnership with Smart Communications Inc. to make music downloads available to phone users via music service Spinnr. In 2020, UMG launched Def Jam Philippines and Island Records Philippines. In 2021, UMG signed a distribution agreement with Off the Record, a local independent label owned by former MCA Music and Warner Music Philippines executive Ricky Ilacad.
Title: Universal Records (Philippines)
Content:  Universal Records Philippines Inc. is a Filipino record label founded in 1977 as part of Warner Music Group. Since 1992, it is an independent label. The label is currently a member of the Philippine Association of the Record Industry. Universal Records also released video karaoke VCD versions of the label's songs in the Philippines.
Title: Universal Records (Philippines)
Content:  URPI was founded in 1977 as WEA Records Philippines Inc. The company was the licensee of WEA in the Philippines for 15 years, but the latter still decided to put its own office, the precursor of what is now Warner Music Philippines. In 1992, the company adopted a new name, Universal Records Philippines Inc., and since then it rose as one of the Philippines' best and biggest record labels. Universal Records officially distributed K-pop albums from September 2009, to be followed by some J-pop albums which was announced late May 2011. Currently, it is the leading independent recording company in the country, being home to best-selling OPM artists. In 2018, the company launched Mustard Music, a sublabel focusing on the growth of homegrown indie acts.
Title: List of Universal Music Group labels
Content: will.i.am Music Group ; Flawless Records 
Title: Universal Music Group
Content:  The company's origins go back to the formation of the American branch of Decca Records in September 1934 and its name and company logo originates from Carl Laemmle's "Universal Pictures", with which the music business shares a common history but which is today as part of NBCUniversal an independent commercial entity. The Decca Record Co. Ltd. of England spun American Decca off in 1939. MCA Inc. merged with American Decca in 1962. In November 1990, Japanese multinational conglomerate Matsushita Electric agreed to acquire MCA for $6.59 billion. In 1995, Seagram acquired 80 percent of MCA from Matsushita. On December 9, 1996, the company was renamed Universal Studios, Inc., and its music division was renamed Universal Music Group; MCA Records continued as a label within the Universal Music Group. In May 1998, Seagram purchased PolyGram and merged it with Universal Music Group in early 1999.
Title: Universal Music Publishing Group
Content:  Universal Music Publishing Group (UMPG) is a North American music publishing company and is part of the Universal Music Group. It was formerly known as MCA Music Publishing until it merged with PolyGram. Universal Music Publishing is the world's second largest music publishing company, behind Sony Music Publishing. UMPG's catalogue consists of over three million songs, with offices in over 30 countries.
Title: Universal Music Distribution
Content:  Universal Music Distribution was the primary music distribution unit of parent company Universal Music Group until 2015 when the company was dismantled. It oversaw the sales, marketing and distribution activities for UMG labels Republic Records, Island Records, Def Jam Recordings, Capitol Music Group, Interscope Geffen A&M Records, UMG Nashville, Verve Music Group, Decca Label Group, Universal Music Latin Entertainment, Universal Music Enterprises, and Varèse Sarabande. It also provided North American distribution to non-Universal-owned labels such as Roc Nation, Big Machine Records, ABKCO Records, Concord Records, Darksyde Productions Inc and Rounder Records and handled worldwide distribution for Disney Music Group's two labels: Walt Disney Records and Hollywood Records. It also managed distribution and sales for Vivendi Entertainment, the company's home entertainment division, until it was sold to Gaiam in 2012.

Question: Verify the following claims with "True" or "False": The Universal Music Group is also a parent company for Philips Records.
Answer: True