The ownership of the legendary Belgian label goes fully to Universal.
Universal Music Group (UMG), the world’s largest music company, has fully acquired Belgian independent music label PIAS, following its initial 49 percent stake purchase in 2022.
De Tijd reports this.
PIAS, one of Belgium's most renowned music success stories, manages a portfolio of indie labels with a global reach through 60 offices. Its roster includes acts such as Eels, Editors, and Soulwax.
The deal, confirmed by an internal memo from PIAS co-founder Kenny Gates, sees UMG acquire the remaining 51 percent of the label.
Gates emphasized that the decision to sell was voluntary, driven by both commercial and personal considerations. PIAS will retain its independent identity, with Gates continuing to lead as an autonomous division within UMG, reporting directly to UMG’s CEO, Lucian Grainge.
PIAS’ distribution arm, Integral, will merge with UMG subsidiary Virgin, expanding its global reach. Despite the sale, Gates reassured staff that PIAS’ unique identity and mission will remain intact.
Picture: Pixabay.com
