BMG Acquires Mute Records Catalog

From Billboard:

In its second deal of the day, BMG Rights Management has acquired the Mute back catalog owned by EMI, which includes records released by artists like Depeche Mode, Erasure, Moby, Goldfrapp and Nick Cave.

According to sources, BMG paid over 7 million pounds, or between $11 and $14 million, for the assets it acquired. While BMG acquired the Mute catalog assets, the Mute label itself is unaffected by the deal and remains a separate stand-alone entity, which releases records by such artists as M83 and the Liars.

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