UMG's Acquisition Of ARS Entertainment Concluded
September 25, 2007 at 5:45 AM (PT)
BELGIAN record company ARS ENTERTAINMENT is now a part of UNIVERSAL MUSIC GROUP. The acquisition was concluded by ARS ENTERTAINMENT Founder/Managing Director PATRICK BUSSCHOTS, SVP UMG International and Pres./NORDIC, CENTRAL & EASTERN EUROPE VICO ANTIPPAS. Terms were not disclosed.
ANTIPPAS said, "UNIVERSAL MUSIC is always striving to push boundaries and expand the scope of our activities. The future of our business lies in an entrepreneurial, hit-driven approach, and we believe that this new partnership with ARS ENTERTAINMENT fits perfectly into that strategy. We are very excited to be working with PATRICK."
For PATRICK BUSSCHOTS, the agreement marks an important step forward. He said, "It was an emotional decision for me, since I built up ARS with the sweat of my brow, but I am convinced that with UNIVERSAL MUSIC, we can begin a successful new chapter in our story."