News - 22/03/2018

INgrooves is for sale at $100m

INgrooves is for sale at $100m

According to a report published by "Billboard", Global distribution and services company INgrooves is for sale with a $100m pricetag. Sources suggested that the company now turns around around $150m annually.

Reportedly, INgrooves majority owner Shamrock Capital is currently seeking a buyer for the company. INgrooves works with indies such as Dirty Hit, Strange Music, Rostrum and many more and also offers its clients publishing, neighboring rights and artist services.

Billboard cites potential acquirers of INgrooves could include Universal Music Group, Sony Music, Warner Music Group, Kobalt, BMG, Concord Music, Believe and [PIAS].

Universal previously owned 51% of INgrooves, but is now a minority shareholder.

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