Universal Music Group (UMG) just acquired a 70% stake in Kenyan label, AI Records. According to reports, the acquisition was made by Universal’s Dutch subsidiary (Universal International Music BV) for an undisclosed fee.
AI Records is based in Nairobi, Kenya, and it owns one of the largest catalogues of East African music in the world, with a roster including recordings by local stars such as Orchestra Super Mazembe and Afro 70.
AI Records was founded in the 1950s by Michael Andrews whose son, John Andrews, heads up the business today. The Andrews family will retain 30% ownership in the label, which will digitise its catalogue as part of the Universal partnership.
Music is my therapy and my straitjacket. Music keeps me sane and keeps my mind on something. It's fragile up thereWho said it? >
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