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In 1976, Columbia Records of Canada was renamed CBS Records Canada Ltd. The Columbia label continued to be used by CBS Canada, but the CBS label was introduced for French-language recordings.
In 1992, Branson sold his record label to EMI for nearly $1 billion to raise capital for Virgin Atlantic. Branson also disposed of the Virgin Megastore chain in 2007, two years before it folded. In 2000, Branson sold a 49% stake in Virgin Atlantic to Singapore Airlines for nearly $1 billion.