'Universal Music Group Buys 49% Stake In PIAS Group
Buys 49% Stake In PIAS Group
Universal Music
Group (UMG) has struck a deal to acquire a 49% shareholding in PIAS Group, the leading
Financial terms
of the arrangement, announced early Wednesday (Nov
By taking
a minority stake in PIAS Group, UMG, the world’s leading major music company, expands
PIAS, or
Play It Again Sam, was founded in Belgium 1982 by Kenny Gates and Michel Lambot, both
Gates and
Lambot will retain majority control of the company, a joint statement reads, and UMG will
Headquartered in
London and Brussels, PIAS is said to be one of the largest independent and privately-owned
Today, PIAS
boasts 16 offices around the world with 300 employees
As PIAS
celebrates its 40th anniversary, Gates and Lambot insist the new arrangement will enable its artists,
Gates adds,
“These days we are competing with finance and tech giants and a partner like Universal
Universal made
it clear that they like us, they trust us and they need us, because they
Variety, Red Sea Honor
Nadine Labaki, Ranbir Kapoo