Warner Music Group today announced that it has signed an agreement to acquire the legendary recorded music catalog and current roster of recording artists of Gold Typhoon Group, one of the most successful independent music companies operating in the Greater China Region. The deal is due to close in summer 2014.
The Gold Typhoon catalog is one of the largest and most acclaimed collections of local pop and rock music from China, Hong Kong and Taiwan, including many influential and hugely popular releases from the early 1990’s until the present day. The company’s current roster of artists includes multi-award-winning superstars such as Khalil Fong and Kay Tse as well as breaking artists such as Tia Yuan and Sean Zhang, among others. The impressive catalog includes recordings from Taiwanese artists such as Eric Moo, Phil Chang, Elva Hsiao, David Tao, Lollipop, Ah Mei, and Chiang Hui; Mainland Chinese artists Xu Wei, Flowers, and Bibi Zhou Pijiang; and Hong Kong’s Justin Lo, Rubberband, William So, Leo Ku, and Miriam Yeung, among others. Founded in 2003, Gold Typhoon Group became a wholly-owned subsidiary of Pacific Global Management Asia (PGMA) in 2011.
Lachie Rutherford, President, Warner Music Asia Pacific, said “Gold Typhoon’s unique and wide-ranging repertoire makes it a jewel in East Asia’s musical culture. We look forward to welcoming this prestigious catalog and these dynamic artists, and relish the opportunity to create new regional and global possibilities for this iconic collection of music. This landmark deal will complement our existing strengths and expand WMG’s potent presence in these rapidly evolving and flourishing music markets.”
Stu Bergen, President, International, Warner Recorded Music, said, “This important acquisition is a great example of our strategy of growing our global footprint through investment in creative excellence and diversity. We are committed to unlocking huge potential for our artists in regions such as Greater China, Hong Kong and Taiwan, where widespread adoption of new technology is meeting with unprecedented local demand for music.”
Louis Pong, Chairman of PGMA and Gold Typhoon Group, said, “In the process of evaluating this transaction, PGMA were keen to find the most suitable partner and the best home for the valuable Gold Typhoon repertoires. We are delighted to have Warner Music as our partner in this transaction and we strongly believe that, with its powerful A&R strength, Warner Music will unquestionably bring the success and legends of the Gold Typhoon Group and its repertoires into the next level.”
The deal follows Warner Music Group’s other recent moves in emerging markets. In June 2013, WMG announced the acquisition of Gala Records Group, Russia’s leading independent music company, and subsequently established Warner Music Russia. As part of its acquisition of Parlophone Label Group in July 2013, WMG acquired active affiliates in key emerging markets in Eastern Europe. December 2013 saw the launch of Warner Music South Africa, following a buyout of Gallo Records’ share of the joint venture Warner Music Gallo Africa. These acquisitions coincided with renewed investment in local repertoire in emerging markets where WMG already had a presence, such as Brazil. Read More