Olswang and Reed Smith have taken the lead roles on the sale of Ministry of Sound Recordings to Sony Music UK.
Ministry of Sound Group was advised by Olswang on the sale of the well-known record label, which launched in 1993 and has cumulative album sales of more than 70 million, including 40 UK number one albums and 21 UK number one singles.
Reed Smith advised Sony Music UK on the acquisition, which will see the company take on Ministry of Sound’s stable of artists, which includes London Grammar (pictured above), DJ Fresh and Sigala.
The firm’s team was led by London corporate partner Mike Young, alongside entertainment and media partner Gregor Pryor, employment partner Laurence Rees and tax partner Caspar Fox.
The Olswang team was led by London corporate partner Mark Bertram along with head of music and commercial partner John Enser, intellectual property partner Joel Vertes, tax partner Stephen Hignett, and employment partner Melanie Lane.
Bertram commented: “Having advised Ministry of Sound and its owners across the last 20 successful years, it has been a great pleasure to help deliver this latest transaction. It also played to our all-round expertise in the sector and ability to combine skills across our corporate, commercial, employment and tax practices.”
Macfarlanes also took a role on the deal, advising the principal Ministry of Sound shareholder, with a team including partner Sebastian Prichard-Jones and senior partner Charles Martin.
Picture credit: Piotr Drabik