BMG Back in the Label Game
At one time BMG (Bertelsmann Music Group, the music division of Germany’s Bertelsmann AG), was one of the planet’s major labels. Then came an ill-advised merger with Sony in 2004 that was torn asunder in 2008. This marked BMG’s retreat from the recorded music business.
Since then, though, the company had been making noises about getting back into the label game. Now they have.
BMG has just purchased Sanctuary, home to Black Sabbath, Iron Maiden, Megadeth, the Kinks, Ministry and tons of other big names. The price was $62.5 million.
Technically, I guess this means that BMG is the only label to go from being a major to an indie. More at The Hollywood Reporter.
thank you for this.
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