Ministry of Sound have sold off their music business..
Sony Music UK have acquired Ministry of Sound‘s music business. While the club and other activities will remain independent the recordings side of the company is now owned by Sony.
Ministry of Sound have been one of the biggest indiependent record label since they started releasing compilations alongside their nightclub events back in the 90s. In that time they have had more than 20 number 1 singles and released countless successful compilation albums.
“I’m delighted we have found the right home to grow Ministry of Sound Recordings at a global level while keeping its unique identity. Sony Music is a world-class company that understands our ethos of exceptional curation and developing young talent.
“Ministry of Sound Recordings had its most successful year to date in 2015.
Sony has the scale and strength within the industry to project our artists and music onto an even bigger platform.”
– Lohan Presencer, Ministry of Sound Group Chief Executive
Ministry Of Sound’s recordings business generated more than £25m in 2014.
Source: Music Business Worldwide