[PIAS] completes acquisition of Cooperative Music from Universal

[PIAS] has fully acquired Cooperative Music from Universal, with the deal now cleared by EC regulators.

Cooperative Music – often referred to as ‘Co-Op – is a divestment following Universal’s £1.2 billion buyout of EMI Music. The EC has required Universal to shed certain assets in order to be able to complete its takeover.

[PIAS] is believed to have purchased Co-Op for a fee in the region of £500,000.

Co-Operative Music acts as a funding and support hub for a group of independent labels such as Bella Union, Transgressive, Heavenly Moshi Moshi and more. It also provides support in marketing, promotions, digital distribution and other services.

Acts Co-Op has worked with include Fleet Foxes (pictured), The Black Keys, Two Door Cinema Club and Bloc Party.

As part of the Co-Op deal, [PIAS] has acquired the V2 Label from Universal. Recent releases on V2 have included The Courteeners’ album ANNA.Music Business Worldwide

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