LONDON (CelebrityAccess MediaWire) — Universal Music Group is shutting down the recorded music division at Sanctuary in the U.K., as the world’s largest music group moves ahead with its plan to focus its new acquisition’s management, merchandising and catalog operations.
Just days after completing its $90 million takeover of Sanctuary, UMG is immediately seeking to close the unprofitable areas of the business, and putting it’s efforts behind the services Universal had never focused on before.
Sanctuary’s U.K. labels are home to artists such as Marc Almond, Dolores O’Riordan, Cooper Temple Clause and the Charlatans, among others. There is no word as to whether these artists will simply move onto the Universal Music label.
Sanctuary’s U.S. label, which includes Dolly Parton and Brian Wilson on its roster, will remain in operation for the time being.
“In consultation with senior management of the Sanctuary Group, it has been decided that its Sanctuary Records U.K. division will no longer continue as a standalone, frontline record label,” Universal said in a statement.
According to Variety, Sanctuary’s remaining artist services division will be run by existing Sanctuary CEO Frank Presland, and Universal will be holding high-level integration talks later this month to set up a new company structure.
Remaining Sanctuary assets include their artist management group, live booking agency Helter Skelter, and merchandising giant Bravado. –by CelebrityAccess Staff Writers