Universal and Virgin Music Complete $775 Million Acquisition of Downtown

Universal and Virgin Music Complete $775 Million Acquisition of Downtown

Virgin Music Group, the independent-distribution and artist-services division of Universal Music Group, has announced the completion of its $775 million acquisition of Downtown Music Holdings LLC, one of the largest artist-services companies in the world. At the same time, Pieter van Rijn was appointed chief operating officer, having been CEO of Downtown since last year (and previously CEO of Netherlands-based distributor and services company …

Virgin Music Completes Downtown Acquisition

• Virgin Music Group (VMG) announced the completion of its acquisition of Downtown Music Holdings LLC. It was concurrently announced that Downtown CEO Pieter van Rijn has been appointed Chief Operating Officer. He will remain based in Amsterdam and report to co-CEOs Nat Pastor and JT Myers. Pictured, (l-r): JT Meyers, Pieter van Rijn, and Nat Pastor. Downtown Founder Justin Kalifowitz confirmed he is stepping away from the company he founded in …

Virgin Music Group completes Downtown acquisition; Pieter van Rijn named COO as Downtown founder Justin Kalifowitz steps away

Pieter van Rijn appointed Chief Operating Officer of VMG Source

Virgin Music Group completes Downtown Music Holdings acquisition

Days after securing regulatory approval of its acquisition of Downtown Music, UMG’s Virgin Music Group has completed the $775m deal. The post is from Music Ally.