Common Music Group completes 100% acquisition of [PIAS] Group

Common Music Group owns the [PIAS] Group.

UMG introduced it had acquired 49% of [PIAS] in 2022, following a “strategic alliance” inked between the businesses the prior 12 months.

Common has now accomplished the acquisition of the remaining 51% of shares from [PIAS] co-founders Kenny Gates and Michel Lambot, for an undisclosed charge.

Common is buying two core enterprise divisions throughout the [PIAS] Group:

1. Label companies division [Integral], which supplies bodily and digital distribution companies to impartial labels;
2. The [PIAS] Label Group, house to the corporate’s personal and related file labels, together with Play It Once more Sam, harmonia mundi, Demain, Spinefarm, Supply and companion labels such ATO, Heavenly, Mute, and Transgressive.

Subsequent to the acquisition, [Integral] will merge with UMG’s Virgin Music Group.

The [PIAS] Label Group will proceed to run as a separate and “utterly autonomous” division, in keeping with an organization press launch. It’s going to grow to be a Virgin Music Group/[Integral] consumer.

[PIAS] says that Kenny Gates has signed a brand new long-term contract to stay CEO of the corporate. He’ll lead [PIAS] Label Group and sit on the board of Virgin Music Group.

Michel Lambot is known to be leaving his present position at [PIAS], however will proceed as an advisor to the corporate.

Mentioned Gates of the brand new deal: “I’m promoting my shares not my soul. Since agreeing a strategic alliance with UMG in 2021 we have now discovered them to be supportive and engaged companions who’ve added actual worth to our providing.

“The choice on my own and Michel to relinquish our remaining shareholdings within the firm is a practical one that may enable us to supply a very world distribution and companies platform to the impartial music neighborhood. Our present management group will proceed to steer our day-to-day work and nothing will change culturally or commercially for our present purchasers and companions; we are going to nonetheless keep the identical values that we have now lived by since our launch over 40 years in the past.”

Michel Lambot added, “Our preliminary settlement with UMG in 2021 was all the time going to be a studying expertise for each events when it comes to how we may align our particular person cultures and whether or not that may work. If I’m sincere I did have some issues as as to if it was even potential however I’m completely satisfied to say I used to be improper – our two corporations have heaps in frequent together with groups that share an actual ardour for music and our relationship so far has been fruitful, convivial and every part we hoped it might it’s.

“This new section, which can see us working even nearer collectively guarantees to be an thrilling new period for [PIAS], our workers, our companions and the artists we signify.”

Sir Lucian Grainge, Chairman and CEO of UMG stated, “I’ve recognized Kenny and Michel for many years, starting within the 80s after we have been all signing bands from rising scenes in Europe. Since that point, Kenny and Michel have constructed [PIAS] into an organization that stands for authenticity and the very best in impartial music. And it’s these qualities that aren’t solely vital to me personally however that additionally make [PIAS] an ideal match for UMG’s entrepreneurial and inventive tradition.”

Boyd Muir, Common Music Group’s Government Vice President, Chief Monetary Officer and President of Operations stated, “We’re delighted by all that’s been achieved over the previous three years collectively, and we stay up for working with Kenny and Michel and their total group, together with their household of artists and labels, to additional construct [PIAS]’s legacy.

“Their expertise and insights have considerably helped to develop this dynamic space of our enterprise. Finishing the acquisition of [PIAS] Label Group and [Integral] reinforces our best-in-class label companies operations and enhances our skill to help the impartial artist and label neighborhood globally.”

JT Myers, Co-CEO of Virgin Music Group, commented: “In [PIAS] and [Integral] Kenny and Michel have constructed a very world-class operation and government group.

“We’re trying ahead to working carefully with them to construct on their nice custom of serving music entrepreneurs world wide.”

[PIAS] is headquartered in London and Brussels with 16 workplaces world wide and 300 workers. It was based by Gates and Lambot 42 years in the past.

In August, MBW wrote in an evaluation of UMG’s world prospects:”In fact, UMG has already made one materials current transfer in [Europe]: in 2022, the corporate acquired 49% of the Belgium-born world impartial label/artist distribution community, [PIAS].

“That minority acquisition arrvied simply as a 10-year restriction on Common, stopping it from buying vital music corporations throughout the EU, was lifted. (Mentioned restriction was a hangover from UMG’s industry-changing buyout of EMI Music in 2012.)

“With these regulatory handcuffs now eliminated, and with Europe main Spotify’s internet subscriber additions over the previous 12 months, would possibly UMG grow to be tempted by extra acquisitive alternatives within the area?”Music Enterprise Worldwide