BMG Chrysalis U.S. Buys Vagrant Records
November 17, 2014 at 9:51 AM (PT)
BMG CHRYSALIS U.S. has announced that it has acquired L.A.-based indie rock label VAGRANT RECORDS and will inherit the entire VAGRANT catalogue, as well as its rights to future recordings. VAGRANT Co-Founder JON COHEN will become EVP/ Recorded Music at BMG CHRYSALIS U.S., responsible both for VAGRANT and for records released in the U.S. through BMG’s Artist Services model.
Founded in 1996, VAGRANT RECORDS has signed the likes of THE 1975, EELS, BAD SUNS, EDWARD SHARPE AND THE MAGNETIC ZEROES, PJ HARVEY, SCHOOL OF SEVEN BELLS, BLACK REBEL MOTORCYCLE CLUB, BLACK JOE LEWIS, BLITZEN TRAPPER and BOMBAY BICYCLE CLUB.
“The acquisition of VAGRANT RECORDS is another milestone for BMG in the US as we build scale and capabilities in the recordings business just as we have in music publishing," BMG CHRYSALIS NORTH AMERICA Pres./Marketing & Creative LAURENT HUBERT said. "JON COHEN has built an impressive team at Vagrant, and with the support of BMG and its international infrastructure, we believe they will offer an unbeatable service both to VAGRANT artists and to BMG’s Artist Services signings.”
“It is impossible not to be impressed by what BMG has achieved in the U.S. since it opened in the U.S. just five short years ago," JON COHEN said. "By putting service to artists at the center of its offering, BMG is committed to offering a genuine alternative to traditional label deals. Together with the rest of the VAGRANT team, I look forward to further growing BMG’s presence in the recordings business.”
“We are delighted to welcome VAGRANT’s artists and staff to BMG," BMG CEO HARTWIG MASUCH said, "While new technologies and ways of working continue to prove challenging to established players, BMG will continue to invest in the future of the music business, one which puts the interests of artists and songwriters at the very forefront.”