Complex sentence: Universal Music TV (often abbreviated as UMTV) is a London-based record label that was formed in 1998, and owned by Universal Music Group, UMTV specialises in producing compilation albums and occasional single releases.
Split into simpler sentences: Universal Music TV (often abbreviated as UMTV) is a London-based record label that was formed in 1998. Owned by Universal Music Group, UMTV specialises in producing compilation albums and occasional single releases.