Edel Austria Buys Majority Stake In Label

Edel Records Austria, a subsidiary of Germany's Edel Music, has bought a majority stake in Vienna-based label Musica Schallplatten-Vertriebs from Swiss company Musikvertrieb.

Edel Records Austria, a subsidiary of Germany's Edel Music, has bought a majority stake in Vienna-based label Musica Schallplatten-Vertriebs from Swiss company Musikvertrieb.

The labels will be combined and renamed Edel Musica Vertriebs. Musikvertrieb retains a minority stake in the venture, which will be placed under the umbrella of Edel's Swiss affiliate, Phonag Records.

Edel in Austria -- which already distributes SPV, Epitaph, Eagle Records and Ministry of Sound, among others -- will take over distribution of Musica and its distributed labels. The company has local deals with international independents such as Beggars Banquet, PIAS, Roadrunner and Rough Trade.

Stefan Weikert, Edel's GM of new business and communications in Hamburg, says the deal will raise his company's market share in Austria to 6% from 3.5%.

The new venture will be managed by Mark Flury, the Phonag managing director who also oversaw Edel Records Austria.
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