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    Universal acquires 49% stake in [PIAS] independent music company

    Universal Music Group has acquired a 49% stake in the independent music company [PIAS] Group. 

    The music rights giant paid an undisclosed sum for the just-minority stake in the Belgian record label and distribution company, originally known as Play I Again Sam, according to Music Business Worldwide. The press statement for the partnership said, “[PIAS] will remain fully independent, and its founders Kenny Gates and Michel Lambot will retain majority control of the company… UMG will have no seats on the company’s board”.

    [PIAS] Group, which is split into an in-house record division, record label partnerships cooperative and distribution services works with more than 100 independent labels including Warp, Brainfeeder,

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