BERLIN (CelebrityAccess MediaWire) — Music rights management company BMG has announced it has completed their acquisitions of the recorded music catalogues of the Mute and Sanctuary record labels from Universal Music Group.
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 acquisitions have been given the seal of approval by the European Commission, which is tasked with considering the anti-competitive ramifications of such mergers.
BMG's 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."