Hey music fans! Here's a hot update that'll have you buzzing. Create Music Group (CMG) just dropped some exciting news with a mega partnership with none other than Canada’s own Nettwerk Music Group! This killer deal is worth over $300 million and it's bringing a cool indie vibe with a dash of major backing. 🎶
What’s the scoop? Well, the biggest highlight is that Nettwerk is gearing up to level up its game by buying out their past investors. This new team-up means they get to boost their ownership, but—big win—they won’t lose that unique independent flair we're all head-over-heels for.
Create Music Group, based all the way in Los Angeles, is ready to amp things up by bringing Nettwerk’s awesome catalog into their system, with Jonathan Strauss, CMG's co-founder, calling Nettwerk “one of the most enduring and influential independent music companies.” Sounds epic, right?
Even with CMG taking a super important role in managing Nettwerk’s music portfolio, our beloved Canadian label isn't going anywhere. They're staying put at the helm for all the day-to-day excitement, from artist sign-ups to next-level artist development.
Don't think it stops here, though. Nettwerk, founded by Terry McBride and Mark Jowett back in '84, is keeping its game strong. They've had legends like Coldplay and Sarah McLachlan, and are now championing artists like Paris Paloma and SYML. Oh, and let's not forget, Nettwerk had already grabbed headlines with a stellar funding round earlier, led by private equity heavyweights.
And here’s a juicy twist—mind the connection! Flexpoint Ford, a key Nettwerk investor, previously pumped a massive $165 million into CMG, rocking its value to an eye-popping $1 billion.
The best part? As Terry McBride, CEO of Nettwerk put it, they’re all about sticking to their roots while adding more magic for the artists we adore.
Get your playlists ready because this musical union might just bring some seriously fresh jams our way! 🎧 Keep your ears open and your hearts ready for this thrilling ride on the music scene. Stay tuned!