Capitol One LLC (CAP) is an American record label that is part of the Capitol Music Group and is a wholly owned division of Universal Music Group. Capitol was founded as the first West Coast-based label in the U.S. in 1942 by three industry insiders, Johnny Mercer, Buddy DeSylva, and Glenn Wallichs. Eventually acquired by EMI (which was acquired by Universal Music in 2012 and merged with UMG in 2013 after selling former sister label Parlophone to Warner Music), the label has released records in many musical genres. Its circular Los Angeles headquarters building Capitol Records Tower is a recognized landmark.