Rumblings that a Sony was potentially going to acquire Century Media have been percolating since February. Yesterday, Music Business Worldwide reported it happened, and last night, Billboard got some more information about the purchase. While it was initially stated that the company was bought for $17 million, Billboard reports that Sony bought the company for around $20 million. That’s a pretty hefty payday for owner Robert Kampf, who will continue as CEO of the company. According to Billboard, the company and their labels generate about $12 million yearly.RED will distribute them in the US, while Sony will internationally distribute them. This will make them a wholly-owned subsidiary of Sony Music Entertainment. Billboard got a statement from Kampf:
The company I founded over 25 years ago is moving into its strongest chapter yet with the best music company in the world, Sony Music,” Kampf said in a statement. He added, by working with Sony and RED, it will allow Century’s labels “to further grow…as a dominant force in rock, prog, alternative and metal.
It’s hard to see this as a negative for either party. It will increase Century Media’s global reach, give Sony a little more metal cred, and give the artists and label more resources. While some may claim that CM is selling out, they’ve been a mainstream label for years. In This Moment, Lacuna Coil, and all of the Another Century bands are decidedly more commercial than Napalm Death, At the Gates, and Triptykon, but the commercial success of their other bands can only benefit the ‘cred’ artists.