Columbia Graphophone Co. Ltd. was one of the earliest gramophone companies in the United Kingdom. Founded in 1917 as an offshoot of the American Columbia Phonograph Company, it became an independent British-owned company in 1922 in a management buy-out after the parent company went into receivership. As Columbia Records, it became a successful British label in the 1950s and 1960s, and was eventually replaced by the newly created EMI Records, as part of a label consolidation. This in turn was absorbed by the Parlophone Records unit of Warner Music Group in 2013.