News - 20/06/2017

Rumours: is Sony about to buy Believe Digital?

Rumours: is Sony about to buy Believe Digital?

According to "Music Business Worldwide", distribution and label services specialist Believe (formerly known as Believe Digital) is up for sale and Sony could be the pirchaser.

Sources, reportedly, told the magazine that Sony Music has shown interest in an acquisition, but that a final deal is likely still some way off. It seems that Believe is seeking a sale price of €400m-€500m – but you can expect Sony and/or other interested parties to try and bring that down as far as possible. There is also an unverified rumour in the market that Sony made an offer in the region of €300m last week.

"Music Business Worldwide"'s sources also suggest that the other two major label groups – Warner and Universal – aren’t currently at the table. Another highly-acquisitive company, BMG, is also believed to have passed on any potential deal.

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