What are the 5 major record labels?

I can only think of 4 major labels:

EMI
Universal Music Group
Warner Music Group
Sony BMG Music Entertainment

I believe Sony/BMG were once independent of one another, so if you split them, you would have five.

Virgin
RCA
Elektra
Atlantic
CHrysalis

With the shake-up in recent years within the music industry, many companies have been bought up by other companies. Sony and BMG were once independent of each other. There have been rumours for a couple of years about Warner/Elektra/Atlantic buying out EMI (the stable of labels like Virgin and Chrysalis). And Universal also acquired major labels like Geffen and MCA. Here in Australia, the last major (and Australian owned) independent record company, Festival Records, was sold to Warners about a year ago.

Actually, the largest record label by sales anywhere in the world is now Naxos. Unlike the so called 'majors' they still make many original new classical recordings. The majors make hardly any - Warner has announced that it will make no new classical recordings, for example. Here in the UK, we are lucky in having a very active 'independent' sector with labels like Hyperion, Chandos and Dutton

This has changed a lot in the last few years, with some the largest companies merging into giants (surely not good for the industry):

Sony BMG (RCA, Arista, Columbia [CBS], Epic and others)
Universal Music Group (Philips, Deutsche Grammophon, Decca, ECM, MCA, A&M, Polydor, Geffen, Island, Verve, Sanctuary [including ASV], and many others)
EMI (HMV, Capitol, Parlophone, United Artists and others
Warner Music Group (Atlantic, Reprise, Warner Classics, London-Sire and others)
Naxos (Naxos, Marco Polo, BIS and others)