Simplify the following text for a Grade 8 native English-speaking person.
Original: The present organization was formed when its parent company Seagram purchased PolyGram and merged it with Universal Music Group in 1998 . However , the name first appeared in 1996 when MCA Music Entertainment Group was renamed Universal Music Group .
Simplified: Seagram , the owner of MCA , would buy PolyGram in 1998 to form Universal Music Group ( which had been MCA before 1996 ) .