Universal Buys Dreamworks Records

0
0
Subscribe to Universal Music alerts

Universal Music has agreed to buy DREAMWORKS RECORDS in a move to combat falling sales and the impact of the internet on the music business.

The DreamWorks label - which includes artists like Nelly Furtado and heavy rockers PAPA ROACH - have been sold to Universal for a reported $100 million (GBP62 million), although neither firms have disclosed the value of the deal.

Last week (ends07NOV03), SONY MUSIC - the second-largest music company - announced it was planning to merge with BMG, and EMI and WARNER MUSIC have also been in talks about a possible merger.

DOUG MORRIS, chairman and chief executive of Universal, says, "We are truly excited about the acquisition of DreamWorks Records.

"(The DreamWorks team) have built an incredible roster comprised of gold, platinum and multi platinum-selling artists as well as a host of new acts who will be successful in the future."

MO OSTIN, principal executive at DreamWorks Records, says, "Despite the challenges of the music business today, Universal is acquiring a wonderful asset and the sale will assure the strongest possible future for our artists."

12/11/2003 13:49

Contactmusic

Tags: Universal Music - Nelly Furtado - BMG

0
0
Subscribe to Universal Music alerts
Advertisement

Editors Recommendations

Wolf Alice - Interview

One half of London quartet Wolf Alice discuss their recent tour, their excitement for 2015 and a possible album...

Wolf Alice - Interview Video

Paul McCartney - The Daily Show Clips

Paul McCartney recently unveiled a new single, entitled 'Hope', to go alongside the release of brand new video...

Paul Mccartney - The Daily Show Video

Calvin Harris Models For Armani Spring/Summer 2015 Campaign [Pictures]

Get ready to see another side of DJ superstar Calvin Harris as he models for...

Calvin Harris Models For Armani Spring/Summer 2015 Campaign [Pictures]

McBusted - Get Over It

'Get Over It' is the second official single from McBusted's self-titled debut studio...

Mcbusted - Get Over It Video

Demi Lovato On Why She Is Finally Confident With Her Body: "I Love My Butt"

Demi Lovato hasn't always been happy with her body figure, but now the...

Demi Lovato On Why She Is Finally Confident With Her Body:

Nicki Minaj Opens Up About Wanting To Have A Family: "I Want A Cute Little Fat Baby"

Nicki Minaj is without a doubt the most dominating female artist in the...

Nicki Minaj Opens Up About Wanting To Have A Family:

Jamie Dornan Recalls Visiting A Sex Dungeon To Prepare For 'Fifty Shades Of Grey' Role

Jamie Dornan's latest role sees him play kinky billionaire Christian Grey...

Jamie Dornan Recalls Visiting A Sex Dungeon To Prepare For 'Fifty Shades Of Grey' Role

Olivia Munn Talks Being Inspired To Come To Hollywood, And New Venture As An Author

Olivia Munn is now an established television and movie star, but her dreams...

Olivia Munn Talks Being Inspired To Come To Hollywood, And New Venture As An Author

Luke Bryan Gives Emotional Speech About Brother-In-Law's Death At the American Country Countdown Awards

Country music star Luke Bryan had a very successful night at Monday's...

Luke Bryan Gives Emotional Speech About Brother-In-Law's Death At the American Country Countdown Awards
Advertisement

Comments

Universal Music Newsletter

Subscribe to this news alert service to receive news and reviews on Universal Music

Unsubscribe | Unsubscribe All