CENTURY MEDIA Owner Robert Kampf To Stay On As CEO Of Century Group - “The Company I Founded Over 25 Years Ago Is Moving Into It’s Strongest Chapter Yet”
August 25, 2015, 8 years ago
Sony Music Entertainment has acquired German hard music company Century Media Records, the company confirmed. The deal, first reported by Music Business Worldwide, has been in the works for months.
Billboard.com reports that while terms of the deal were not disclosed, sources say that Century Media and its family of labels, generate about $12 million in revenue, including $5 million from the US. Sources say Sony paid about $20 million for the company, whose roster includes such artists as Lacuna Coil, Arch Enemy, Queensrÿche, Kansas, Devin Townsend, Steve Hackett and Stitched Up Heart.
The deal further enhances Sony's presence in the hard rock/heavy metal market. In the US, as a distributor, Sony Music Entertainment is the No. 1 major with 33.6% in album market share, including Century Media.
As part of the deal, owner Robert Kampf will service as CEO of the Century group, and the label will continued to be distributed by RED in the US; while Sony will pick up international distribution as well. While the label group will become a wholly-owned subsidiary of Sony Music Entertainment, sources say the deal did not include the company's music publishing assets.
"The company I founded over 25 years ago is moving into its strongest chapter yet with the best music company in the world, Sony Music," Kampf said in a statement. He added, by working with Sony and RED, it will allow Century's labels "to further grow…as a dominant force in rock, prog, alternative and metal.”
Read more at Billboard.com.