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LABEL UPDATES: Mute Records Acquired By EMI – Ringo Starr Signs With KOCH Records

Mute, one of Europe's leading independent record companies, has been acquired by EMI Recorded Music for $36 million, plus up to $27.8 million of potential performance-related payments, over a four-year period. The acquisition includes Mute's catalog and its operations in the UK, US and Germany. Mute Executive Chairman Daniel Miller will continue in his responsibilities for all of the company's
worldwide activities.

Ringo Starr Signs With KOCH Records

Ringo Starr has signed to KOCH Records with a studio album set for release in the spring of 2003. Mark Hudson, who produced the former Beatles' last three albums, will once again be at the control knobs. KOCH also released "The Anthology … So Far," the three CD live set from Ringo and his All-Starr Band last summer.