Zappa - Back with Warner Brothers?
Spindles in Beat Pops
March 24, 2006
Warner Music Group has closed on a $67.5 million deal to purchase Ryko
Corporation, the parent company of Rykodisc. In addition to its own
roster, Rykodisc also controls the Restless Records catalog, which
includes titles by The Flaming Lips, The Replacements and Soul Asylum.
"Recognized as a leader in independent music with a diverse catalog
spanning many musical genres and eras, and an award-winning
independent distribution company and label, Ryko is a perfect
complement to WMG's existing businesses," said WMG Chairman and CEO,
U.S. Recorded Music Lyor Cohen. "By applying WMG's marketing
expertise, strength in the digital space and its leading position in
U.S. independent distribution, we're confident that we will be able to
maximize Ryko's value. We look forward to working with Ryko's talented
and passionate team in realizing Ryko's potential."
Sam Holdsworth, CEO of Ryko Corporation, who was a partner in the
original JPMorgan Partners investment group, will step down following
the completion of the sale of Ryko to WMG. Holdsworth said, "Ryko's
artists and employees have found the ideal home at Warner Music Group,
where independent music, entrepreneurship and artist development are
of paramount importance. It's been a privilege to serve as CEO for
this wonderful organization, and I know I speak for the entire Ryko
team when I say how excited we are that the next chapter for our
artists, labels and recordings will be written at WMG."
Late last year, Rykomusic, which was the music publishing division,
was sold to Evergreen Copyright Acquisitions for about $10 million.
-D
Corné van Hooijdonk
Strictly Commercial
> "Recognized as a leader in independent music with a diverse catalog
> spanning many musical genres and eras, and an award-winning
> independent distribution company and label, Ryko is a perfect
> complement to WMG's existing businesses," said WMG Chairman and CEO,
> U.S. Recorded Music Lyor Cohen.
"Lyor"? That's too easy.
R
Mike Espinoza
=?ISO-8859-1?Q?Corn=E9_van_Hooijdonk?= <cvhoo...@zonnet.nl> wrote:
>EIGHT Fucking Years!!!
...and counting.
--
Mike E.
