UNIVERSAL MUSIC GROUP (UMG) ACQUIRES ATMOSPHERE, LEADING INTERNATIONAL MERCHANDISING FIRM
UK-Based Company Holds Merchandising Rights for Top Artists Including Metallica, Red Hot Chili Peppers, Bryan Adams
London/New York, NY, June 11, 2008 – Universal Music Group (UMG), the world’s leading music company, has concluded an agreement to acquire Atmosphere Apparel, the UK-based music merchandising company founded and owned by Mark Stredwick. Financial terms were not disclosed.
Atmosphere holds international merchandising rights for such artists as Metallica, Red Hot Chili Peppers, Bryan Adams, Def Leppard, Rage Against The Machine and Lostprophets. The company will continue as a stand-alone business, headquartered in the UK, and headed by Mr. Stredwick. It will tap into UMG’s global distribution reach in 77 countries.
Lucian Grainge, Chairman & CEO, Universal Music Group International, said, “Atmosphere is a dynamic, innovative player in music and entertainment merchandising, and we’re very pleased to be in this new partnership with Mark. With plans for investment and growth, Universal Music Group’s deepening commitment to merchandising in both the touring and retail sectors is good news for all artists, brands and entertainers signed to it.”
Atmosphere Apparel Managing Director Mark Stredwick commented, “The acquisition of Atmosphere by a company of the stature of UMG is extremely exciting, and the deal allows us to maintain our reputation as a truly artist-friendly merchandise company, whilst benefiting from the global expertise of UMG’s distribution network.”
About Universal Music Group
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry’s leading global music publishing operation.
Universal Music Group’s record labels include Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Motown Republic Group, Universal Music Latino, Universal Records South, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which includes the last 100 years of the world’s most popular artists and their recordings. UMG’s catalog is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; Twenty-First Artists, its full service management division; and Helter Skelter, its live music agency.
Universal Music Group is a unit of Vivendi, a global media and communications company.