Veteran music publisher Bryan Morrison has bought a 75% stake in London-based audio/visual company Snapper Music for an undisclosed sum.
Veteran music publisher Bryan Morrison has bought a 75% stake in London-based audio/visual company Snapper Music for an undisclosed sum. Under the deal, Morrison, who has worked with Pink Floyd, Marc Bolan/T. Rex and George Michael/Wham!, has acquired the stake that was previously controlled by French bank Credit Agricole and Irish-based venture capitalist ACT.
Snapper and its labels are now part of London-based Morrison Music Ltd. group. The labels include metal imprint Peaceville and mid-price divisions Recall, Snapper Classics and the Complete Blues. Pinnacle continues to handle distribution.
Snapper was founded in 1996 by Jon Beecher and Dougie Dudgeon -- both former directors of catalog specialist Castle Communications -- as an independent record label. Beecher remains CEO, and Dudgeon A&R director of Snapper Music. Since its inception, Snapper has acquired the recording catalogs of WASP, Ozric Tentacles and the Pretty Things, among others. Fleetwood Mac founder Peter Green and death metal act Cradle of Filth have also recorded for the company.
Snapper recently launched artist-development label Believe Music, whose first signing is power pop/punk fourpiece Hypo Psycho. The band is due to release a debut album in March/April.
"One of the reasons why we're launching the new label is to show that we've got a commitment to new music and new acts," explains Dudgeon. "We've always been known for catalog exploitation and for recording with established artists, but people have tended not to associate us with more frontline acts."