Common Music Group has purchased PIAS, considered one of Europe’s greatest unbiased music corporations. After buying a 49-percent share of the corporate in 2022, UMG is now the label group’s majority shareholder, although PIAS will maintain CEO Kenny Gates in place and says its labels will stay totally autonomous. “I’m promoting my shares not my soul,” Gates mentioned in a press launch, saying the UMG partnership has up to now benefitted PIAS artists.
In addition to the group’s personal labels, similar to Play It Once more Sam, and label companions—together with Mute, Heavenly, Transgressive, and ATO—the deal consists of its providers division Integral, which distributes music for indie giants together with Beggars Group and Secretly Group. Virgin Music Group has partnered with Integral as a part of the deal.
Michel Lambot, who co-founded PIAS with Gates in 1983, mentioned in a press launch that he had had “some issues as as to if it was even doable” to work alongside UMG. “However,” he added, “I’m blissful to say I used to be fallacious—our two corporations have heaps in widespread together with groups that share an actual ardour for music and our relationship to this point has been fruitful, convivial and every thing we hoped it could or not it’s.”
Gates added that “nothing will change culturally or commercially for our current shoppers and companions.”
Requested if the merger would lead to job losses, reps for PIAS and UMG declined to remark to Billboard.
