U.K.-based independent music company Sanctuary Group is bolstering its urban properties through the acquisition of management company Erving Wonder (EW).
U.K.-based independent music company Sanctuary Group is bolstering its urban properties through the acquisition of management company Erving Wonder (EW). Philadelphia-based EW represents Eve, Sleepy Brown, Floetry, Angie Stone and Jadakiss, among others. As a result of the deal, EW's two founders - Troy Carter and J. Erving, son of former basketball star Julius "Dr J" Erving - will join Sanctuary's Urban Division as executive VPs. Financial details of the deal were not disclosed.
EW was launched in 2001 through a merger between Boy Wonder Management and J. Erving Group, operations respectively headed by Carter and Erving.
In a statement, Sanctuary Group Inc CEO Merck Mercuriadis describes the acquisition as a "tremendous asset." Sanctuary Urban President Mathew Knowles says Carter and Erving “have a reputation of professional integrity in urban music that is consummated by their success."
Carter explains that EW's goal through the pact is to elevate its artists "to an unheard-of level in the U.S. and internationally." The EW/Sanctuary collaboration, he adds, will "create more opportunities to help artists transcend music genres, TV/Film, and establish unique branding options."
Sanctuary Group previously made its most significant strategic stride into the urban genre late last year when it acquired Knowles' Houston-based management firm Music World Entertainment (MWE) in a £6.6 million ($10 million) deal, funded through a mix of cash and stock. Knowles brought with him to Sanctuary MWE's roster of management clients, including Destiny's Child, his daughters Beyoncé and Solange, Kelly Rowland, Michelle Williams and Blaque.