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In 1960, Columbia/CBS began negotiations with its main international distributor Philips Records with the goal of CBS starting its own global record company. Philips' acquisition of Mercury Records in the US in 1961 paved the way for this. CBS only had the rights to the Columbia name in North America; therefore the international arm founded in 1961 and launched in 1962 utilized the "CBS Records" name only, with Philips Records distributing the label in Europe. CBS's Mexican record company, Discos Columbia, was renamed Discos CBS by 1963.
Who acquired Mercury Records (US)?
Philips Records