BLACK SABBATH, IRON MAIDEN, MEGADETH Catalog Part Of Universal Music Group Sale To BMG
February 15, 2013, 11 years ago
According to here, Vivendi SA’s Universal Music Group, the world’s biggest record company, agreed to sell the label of BLACK SABBATH, IRON MAIDEN and MEGADETH to BMG Rights Management as part of disposals required by regulators.
The deal for Sanctuary Records is among the asset sales asked for by European regulators after Universal Music’s acquisition of EMI Group and is the second label bought by BMG Rights among those on offer, BMG Rights said in a statement today. The Sanctuary label was sold for 40 million pounds ($62 million), two people with knowledge of the transaction said.
Sanctuary, which also holds rights to THE KINKS and MOTÖRHEAD, is the second label Universal Music has sold this month. Last week, the record company agreed to sell Parlophone, home to COLDPLAY, THE PET SHOP BOYS and TINA TURNER, to Warner Music Group for $784 million. BMG Rights, controlled by KKR & Co., is a Berlin-based management and rights company expanding into recorded music.
“We have made no secret of our ambition to create a new force in the music industry focused on delivering service and revenue to artists,” BMG Chief Executive Officer Hartwig Masuch said in the statement.
