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Business News Deals Labels & Publishers
Warner to acquire Chinese independent
By Chris Cooke | Published on Tuesday 29 April 2014
Warner Music yesterday announced it had signed an agreement to acquire the Gold Typhoon Group, which might sound like a tea company to you, but it’s actually one of the most successful independent music firms in the Greater China area.
The deal will see Warner acquire the firm’s recorded music catalogue and its current roster of artists, which include established acts in the region like Kay Tse and Khalil Fong (the latter only just out of a deal with Warner), plus newer talent including Tia Yuan and Sean Zhang.
Confirming the deal, Warner Music Asia Pacific President Lachie Rutherford told CMU: “Gold Typhoon’s unique and wide-ranging repertoire makes it a jewel in East Asia’s musical culture. We look forward to welcoming this prestigious catalogue and these dynamic artists, and relish the opportunity to create new regional and global possibilities for this iconic collection of music. This landmark deal will complement our existing strengths and expand WMG’s potent presence in these rapidly evolving and flourishing music markets”.
While Louis Pong, Chairman of the Gold Typhoon Group added: “In the process of evaluating this transaction, we were keen to find the most suitable partner and the best home for the valuable Gold Typhoon repertoires. We are delighted to have Warner Music as our partner in this transaction and we strongly believe that, with its powerful A&R strength, Warner Music will unquestionably bring the success and legends of the Gold Typhoon Group and its repertoires into the next level”.
