It lost out on buying Parlophone Label Group to WMG last week - but BMG has now signed a binding agreement to acquire Sanctuary Records from Universal Music. The reported fee is in the region of £40m.
The proposed sale, which is subject to regulatory approval by the European Commission (EC), forms part of a series of divestments mandated by the EC following Universal’s purchase of EMI Records.
BMG CEO Hartwig Masuch said, “We are delighted to have won the ...
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