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 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: 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: 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 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: Universal Music Group Nashville
Content:  Universal Music Group Nashville is Universal Music Group's country music subsidiary. Some of the labels in this group include MCA Nashville Records, Mercury Nashville Records, Lost Highway Records, Capitol Records Nashville and EMI Records Nashville. UMG Nashville not only handles these imprints, but also manages the country music catalogues of record labels Universal Music and predecessor companies acquired over the years including ABC Records, Decca Records, Dot Records, DreamWorks Records, Kapp Records, MGM Records and Polydor Records.
Title: Universal Music Group Nigeria
Content:  In 2019, UMG became the first major music company to license its substantial music catalog to music, a platform that offers its users access to high quality music and videos. The partnership between the service and the label is intended to extend the reach of Universal Music Group and make the music of its global recording artists more accessible.
Title: Universal Music Group
Content:  as much as $40 billion and then increased the valuation to $50 billion in 2019. In August 2013, UMG became the first company in the US to have nine of the Top 10 songs on the digital charts, according to SoundScan and weeks later, became the first company to hold all 10 of the Top 10 spots on the Billboard Hot 100 Chart. In September 2013, UMG received a SAG-AFTRA American Scene Award for the company's commitment to diversity as exemplified by its "entire catalog and roster of artists." On April 1, 2014, Universal Music announced the disbandment of Island Def Jam Music, one of four operational umbrella 
Title: Universal Music Group Nigeria
Content:  Universal Music Group and Brands (UMGB) is the creative and brand partnerships division of Universal Music Group.
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 (UMG) is not the parent company of Philips Records.
Answer: False