LOS ANGELES (CelebrityAccess) — The prominent music and entertainment company, Create Music Group, announced the acquisition of the UK-based record label and music publisher, Ostereo.
Founded in 2016 by Howard Murphy, Ostereo has leveraged data analytics to identify and develop artists from territories around the world, including Europe, UK, Korea, India, Indonesia, The Philippines and others.
As part of the acquisition, Murphy will exit the company while his partners, Ramin Bostan and Nick Kirby, will take on day-to-day oversight of operations.
Following the acquisition, Create Music Group’s executive team, led by CEO Strauss, COO and co-founder Alexandre Williams and Senior Vice President of Global Corporate Development and M&A Eric Nguyen, will work with Ostereo to ensure that the company is integrated into the Create Music ecosystem.
“Howard and his team have built Ostereo into a highly successful music venture and are the exact type of leaders and entrepreneurs that thrive under our ecosystem,” said Create Music Group Founder and CEO, Jonathan Strauss. “We are excited to welcome Ramin, Nick and the entire Ostereo team to Create and look forward to working alongside them to build even greater opportunities for the label and its incredible artists.”
“Over the last decade we have built Ostereo into a home to incubate and develop exciting new artists across multiple genres,” said Murphy. “Becoming a part of the Create family of companies gives me the confidence to step away to focus on my next endeavor. With Ramin and Nick handling things together with the global experts at Create, I know our artists are going to thrive.”
The financial terms of the acquisition were not disclosed.
