Report: Century Media Sold to Sony for $17 Million
Rumors have been swirling for months that long-running metal label Century Media was looking to sell to a worldwide major label. Though rumors and trusted sources all said the likely suitor was Sony, Century Media founder Robert Kampf denied as much in an extensive interview we conducted with him at the time.
Well, now it’s official… almost: according to Music Business Worldwide, “sources are now suggesting” that the deal is done, and that Sony paid a purchase price of $17 million for the rights to Century Media and all of its sublabels. Further, the purchase was allegedly inspired — at least in part — by Sony’s failure to acquire Rise Records, who BMG bought last year.
I’m sure we’ll be hearing more about this acquisition soon from both parties. In the meantime, I highly suggest reading the aforementioned interview with Kampf and an opinion piece we wrote about why it makes sense for Century to sell to a major.