It was rumored back in February that a major label was interested in acquiring Century Media. Now, according to a report from Music Business Worldwide, Sony has indeed bought the label for $17 million. Century Media, founded in 1988 in Germany, is the current home to In This Moment, At the Gates, Intronaut, Arch Enemy, Lacuna Coil and many more acts, along with an extensive back catalog.
In an update to the story since it was published, it seems to be a done deal.
“Sources are now suggesting that Sony has done the deal. Led by Doug Morris, we are told the purchase price was in the region of $17m.”
Back in May BMG purchased Rise Records, home to bands of Teenage Time Killers, The Acacia Strain, and The Devil Wears Prada, though the terms of the deal were not disclosed.