Universal Music buys one of the largest independent record labels in Romania

Universal Music Group recently completed the acquisition of independent record label MediaPro Music. The value of the transaction was not disclosed. MediaPro Music was established in 1997 and has been part of Central European Media Enterprises media group since 2009. It is one of the largest independent record labels on the local market, representing famous Romanian artists such as Nicole Cherry, Loredana, Holograf, Andra, Vunk and Stefan Banica Jr. MediaPro Music ranks third among local independent record labels, based on its market share. It will continue to operate as an independent label, part of Universal Music Group, under the leadership of general manager Dana Adam, according to a statement of Universal Music Romania. Universal Music Group operates in 77 countries. Its operations include Universal Music Publishing Group, a world leader in music publishing. In Romania, the group is present with two subsidiaries, namely Universal Music Romania and Universal Music Publishing Romania. Local RCS&RDS to take over all of CME’s radio licenses in Romania. Irina Popescu, irina.popescu@romania-insider.com (photo source: freeimages.com)