Warner Music Group Corp. yesterday (Jan. 29) announced the completion of its acquisition of 73.5 percent of Amsterdam-based Roadrunner Music Group B.V., which includes Roadrunner Records, one of the leading hard rock and heavy metal labels.
The Roadrunner acquisition was originally announced on December 18, 2006. The transaction was subject to regulatory approval in Germany, which has now been obtained.
Roadrunner will operate as a freestanding label group within WMG's Atlantic Records Group. Roadrunner Managing Director
Cees Wessels continues to run the company he founded.
Lyor Cohen, WMG's Chairman and CEO of U.S. Recorded Music, said in a previous press release, "Very rarely do you find a record company with such a longstanding reputation and distinct viewpoint that its very name rises to the level of true brand. Roadrunner, from its strong artist roster to its deep catalog and first-rate creative team, embodies the hard rock aesthetic to its core. Cees and I shared great success when we brought Roadrunner into the IDJ family in 2001, so naturally I'm thrilled today to welcome Cees and his team to Warner Music Group. We look forward to building upon Roadrunner's 25 years of success together."
Initially founded in the Netherlands in 1980, Roadrunner Records has earned its place as one of the most prominent international independent record labels. The Roadrunner catalog boasts early releases from such seminal artists as King Diamond, Type O Negative, Sepultura and Annihilator. More recently, the label has experienced unprecedented success with multi-platinum artists Nickelback and Slipknot, gold-certified Stone Sour and Killswitch Engage, as well as modern heavy hitters Black Label Society, Trivium and Machine Head. Though primarily known as a metal and hard rock label, Roadrunner's roster also includes acts such as The Dresden Dolls and newcomers Madina Lake.
Roadrunner has been at the forefront of the hard music genre for more than 25 years, a genre that has outpaced the overall U.S. industry. According to NPD MusicWatch, hard rock/heavy metal has experienced the greatest increase in market share of any subgenres of rock in 2006 over the prior year.
In four of the last five years, Roadrunner has had at least one of the five top-selling hard music acts in the U.S. with releases from Nickelback. With the acquisition of Roadrunner, WMG has the top three labels in hard music based on 2006 SoundScan figures: Warner Bros. at No. 1; Atlantic at No. 2; and Roadrunner at No. 3.
Still headquartered in the Netherlands, Roadrunner occupies offices in New York, now the A&R hub for the label, as well as the United Kingdom, Canada, Germany, France, Japan and Australia.
Thanks for the report to Blabbermouth.net.
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