BMG has officially completed the acquisitions of recorded music catalogues Mute and Sanctuary from Universal Music Group – reportedly for around £7 million and £40 million, respectively.
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.
The two acquisitions have now been fully approved by the European Commission.
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.”Music Business Worldwide
