EC approves BMG acquisition of Mute and Sanctuary catalogues

BMG has concluded the acquisitions of two sets of catalogue masters from Universal Music – Mute and Sanctuary.
The two buyouts have now been fully approved by the European Commission. Both were divestments from UMG’s acquisition of EMI Music last year, at a total cost to BMG of around £40m. The Mute catalogue includes master recordings from such artists as Depeche Mode, Nick Cave, Goldfrapp and Yazoo. The Sanctuary Records catalogue of 170,000 recordings contains works by the likes of Black Sabbath, Motörhead, Megadeth, The Kinks and Uriah Heep.

BMG CEO Hartwig Masuch said, “These acquisitions are a significant step forward for BMG. Now the real work begins – to demonstrate to artists, writers and clients that their faith in us is justified. “We remain committed to delivering on our promise to create a modern new artist-centric alternative to the legacy music companies.”

Source: Music Week