According to Billboard.com, Century Media owner Robert Kampf (pictured) will continue to serve as CEO of the Century group after the German hard music company was acquired by Sony Music Entertainment for about $20 million. The label will continue to be distributed by RED in the U.S., while Sony will pick up international distribution.
Century Media and its family of labels generate about $12 million in revenue, including $5 million from the U.S.
The deal reportedly did not include the company’s music publishing assets.
In a statement, RED Distribution president Bob Morelli said: “Century is one of the best hard rock labels in the business and Robert is an accomplished executive who understands the genre like few others. We are excited to continue working with Century to grow the business for their talented roster of artists.”
Sony Music Entertainment executive VP of international Adam Granite said in a statement that the deal will provide “a tremendous opportunity to grow our respective hard rock and heavy metal businesses globally.”
“The company I founded over 25 years ago is moving into its strongest chapter yet with the best music company in the world, Sony Music,” Kampf said in a statement. He added, by working with Sony and RED, it will allow Century’s labels “to further grow… as a dominant force in rock, prog, alternative and metal.”
Century Media, which has more than 50 staff across the U.S. and Europe, was instrumental in the careers of heavy music acts like IN THIS MOMENT, SUICIDE SILENCE, SHADOWS FALL, LACUNA COIL and many more.
Century Media’s parent company, The Century Family, includes several other labels: Another Century (rock), InsideOut Music (progressive), People Like You (post-punk, alternative) and Superball (alternative, modern progressive).
Kampf founded Century Media in 1988, with co-owner Oliver Withöft coming onboard roughly a year and a half later.
Withöft passed away in January 2014 at the age of 49 after a long period of illness.
Source: Blabbermouth
