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| "Sanctuary held talks with potential buyers" - Reuters |
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posted by davidt
on Friday June 03 2005, @09:00AM
Belligerent Ghoul sends the link:
Sanctuary held talks with potential buyers - Reuters
Fri Jun 3, 2005 07:51 AM BST
LONDON (Reuters) - Sanctuary Group, the music company which handles artists such as Morrissey and Iron Maiden, said on Friday it had held talks over a possible offer for the firm.
"The company confirms that there have been preliminary talks which may or may not lead to an offer or a further business opportunity", Sanctuary said in a statement.
"(It) notes that during the past 12 months, and indeed on a continuing basis, it has had exploratory discussions with a number of third parties about a wide range of future potential business development and investment opportunities", Sanctuary added.
Sanctuary shares closed at 43-1/2 pence on Thursday, giving the company a stock market value of around 160 million pounds.
A source familiar with the matter said Sanctuary had received several approaches from venture capital companies, including some based in the United States, and added that music industry companies could also be interested in Sanctuary.
Sanctuary's music catalogue has had recent album successes from English singer Morrissey and U.S. rock band The Strokes. Sanctuary also runs an artist management business, where its clients include heavy metal outfits Iron Maiden and Guns N' Roses.
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Is it possible, nay, probable, that he was holding over a full commitment to the IOW based on this? When exactly what he wanted (whatever that may be, we will likely never know) didn't come to fruition, is that when he backed out?
Sanctuary didn't do exactly what Moz wanted, so what if he said, "You're going to sell the company to someone? You didn't consult me? What if these people won't cater to my every whim? Harumph, well, I'm not doing that silly little festival then. So there!"
Maybe not. But maybe, just maybe, so...
ozo