10th May 2002
LONDON, 10 MAY 2002 -- EMI Recorded Music has acquired Mute, one of Europe’s leading independent record companies, extending an existing licensing relationship that Mute has had with EMI’s Virgin Records for over 15 years.
Founded in London in 1978 by Daniel Miller, Mute has consistently been at the forefront of artist development with an artist roster that includes Moby and Depeche Mode - whose last albums sold 8 million and 2 million each respectively - Nick Cave & The Bad Seeds and Goldfrapp. The acquisition includes Mute’s catalogue and its operations in the UK, US and Germany.
Miller, executive chairman of Mute, will continue to be responsible for all of the company’s global activities.
Commenting on the agreement, Alain Levy, EMI Recorded Music’s chairman and CEO said: “It’s a great sign of confidence that Daniel Miller has decided to associate his future with EMI. Daniel is one of the most respected finders and nurturers of talent in the industry and we’re incredibly proud to be strengthening the relationship.”
The new agreement was initiated by EMI Recorded Music’s chairman and CEO of Continental Europe, Emmanuel de Buretel. He said: “This deal is a natural progression of our relationship with Mute. I believe in the independent sector. It provides the business with an immense wealth of new talent. It’s a source of new musical trends and an integral part of the industry’s future.”
EMI will pay £23 million for Mute, plus up to £19 million of potential performance-related payments, over a period of four years.
― MICHELINE, Friday, 10 May 2002 00:00 (twenty-three years ago)
― mark s, Friday, 10 May 2002 00:00 (twenty-three years ago)
― Douglas, Friday, 10 May 2002 00:00 (twenty-three years ago)
― Ned Raggett, Friday, 10 May 2002 00:00 (twenty-three years ago)
― DeRayMi, Friday, 10 May 2002 00:00 (twenty-three years ago)
That Miller's a genii, he is yes.
― Brian MacDonald, Friday, 10 May 2002 00:00 (twenty-three years ago)
― Paul, Friday, 10 May 2002 00:00 (twenty-three years ago)
"I believe in the independent sect0r"
"So I bought it for my major label"
whatever.
― Norman Phay, Friday, 10 May 2002 00:00 (twenty-three years ago)
I'd like to remember that last April 3rd, Frank Tobey a.k.a. Fad Gadget died of heart failure. Fad Gadget was the first signing to Mute. Maybe he died in the right moment. He hasn´t had to see Mute´s final.
― carlos, Sunday, 12 May 2002 00:00 (twenty-three years ago)
― Sean Carruthers, Sunday, 12 May 2002 00:00 (twenty-three years ago)
― mark s, Sunday, 12 May 2002 00:00 (twenty-three years ago)
― MICHELINE, Monday, 13 May 2002 00:00 (twenty-three years ago)
― Jeff W, Monday, 13 May 2002 00:00 (twenty-three years ago)
― Momus, Monday, 13 May 2002 00:00 (twenty-three years ago)
Late out of the gate, but under the wire: Wilco, Mould, next Neil Young release, and recent Iggy synth pop project with that guy from YAZ.
― , Tuesday, 14 May 2002 00:00 (twenty-three years ago)
[Source: Chunky Records]
This goes back on their original statement that they would remain being distributed by the Independent sector.
― DJ Martian (djmartian), Friday, 28 February 2003 15:58 (twenty-three years ago)
Mute has been unbought by EMI. Depeche is sticking with EMI, though.
― Ned Raggett, Wednesday, 22 September 2010 16:12 (fifteen years ago)
And more specifically:
EMI Music and Mute found Daniel Miller have reached an agreement over the future of the label, which will once again be independent - albeit with a label services deal with EMI, who will also take a minority stake.
― Ned Raggett, Wednesday, 22 September 2010 16:13 (fifteen years ago)