According to the press release issued on Wednesday (November 30), under their new agreement, “[PIAS] will remain fully independent, and its founders Kenny Gates and Michel Lambot will retain majority control of the company”.<\/span><\/p>\n The release adds that “UMG will have no seats on the company\u2019s board”.\u00a0<\/span><\/p>\n [PIAS] has over 300 employees and two core divisions: the [PIAS] Label Group, which oversees the company\u2019s various record label interests and [Integral] Distribution and Label Services, which provides support to its own, in-house labels and over 100 independent label partners around the world.<\/span><\/p>\n Some of those label partners include ATO, Beggars Group,<\/span> Bella Union, Chrysalis, Domino, Epitaph, LSO, Mute, Ninja Tune, Partisan, Secretly Group, Transgressive and Warp.<\/span><\/p>\n Commenting on the deal, Sir Lucian Grainge, Chairman & CEO, Universal Music Group, said: \u201cThe boldly independent and music-centric culture that Kenny and Michel have built over the last four decades has provided a vital creative network to so many artists.”\u00a0<\/span><\/p>\n Sir Lucian Grainge, Universal Music Group<\/strong><\/span><\/p><\/blockquote>\n Added Sir Lucian Grainge: “While much of the past was focused on \u2018majors versus indies,\u2019 it\u2019s clear that today, the important divide in our industry is about those committed to artist development versus those committed to quantity over quality.\u00a0 <\/span><\/p>\n “We share Kenny and Michel\u2019s passion for developing artists and moving culture, and we recognize that a healthy music ecosystem needs companies like [PIAS] who are committed to amplifying the best voices in independent music.\u201d<\/span><\/p>\n \u201cWe have enjoyed an excellent relationship with the Universal Music Group team since we announced our strategic global alliance with them last year.”<\/strong><\/p>\n Michel Lambot, [PIAS]<\/strong><\/span><\/p><\/blockquote>\n Michel Lambot, Co-Founder of [PIAS], said: \u201cWe have enjoyed an excellent relationship with the Universal Music Group team since we announced our strategic global alliance with them last year.<\/span><\/p>\n “Kenny and I are celebrating our company\u2019s 40<\/span>th<\/span> anniversary this year and we are still as ambitious as we were when we started out about growing our global presence and providing a world class service to the independent music community.\u201d<\/span><\/p>\n \u201cThese days we are competing with finance and tech giants and a partner like Universal Music Group provides the additional support for us to compete and grow.”<\/strong><\/p>\n Kenny Gates, [PIAS]<\/strong><\/span><\/p><\/blockquote>\n Kenny Gates, Co-Founder and CEO of [PIAS] said: \u201cThese days we are competing with finance and tech giants and a partner like Universal Music Group provides the additional support for us to compete and grow. <\/span><\/p>\n “Universal made it clear that they like us, they trust us and they need us, because they can\u2019t do what we do and they value it highly. <\/span><\/p>\n “For Michel and I this is our life\u2019s work and an ongoing journey and I am excited about the prospect of this new chapter in the life of [PIAS] . This move makes us stronger and secures the future of our brand, our staff and our partners while maintaining control of our destiny.\u201d<\/span><\/p>\n Today’s news comes two months after the expiration (on September 21, 2022) of Universal Music Group\u2019s 10-year ban in Europe on re-acquiring any asset \u2013 or re-signing any artist \u2013 involved in its EMI-related divestments.<\/p>\n![](\"https:\/\/www.musicbusinessworldwide.com\/files\/2022\/10\/H8RDYE.jpg\")
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