- Music
- 15 Aug 16
Sony Buys Ministry of Sound Label
Sony has bought British dance music label Ministry of Sound Recordings Ltd. in a bid to enhance content for younger consumers in its music entertainment business.
Ministry of Sound Recordings originated from a nightclub in South London and was founded in 1993, with cumulative sales of more than 70 million albums mainly in dance and club music.
Sony bought the company through Sony Music Entertainment UK Ltd., with the takeover sum undisclosed.
Sony aims to strengthen its music business, including its streaming service through PlayStation game consoles, leveraging its scant dance music content for young people with the buyout.
“This agreement underscores our ongoing commitment to investing in great artistry and hit music,” Doug Morris, chairman of Sony Music Entertainment, said today.
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