SPV OUT OF INSOLVENCY

The German label SPV, one of the largest independent distributors and record labels in the world,  has been spared an uncertain future after being bought by an investment group.

The label, which includes several sublabels like Steamhammer, with acts such as Sodom, Running Wild, Thin Lizzy,  and in the past Kreator, Motörhead and Judas Priest, is no longer risking bankruptcy after a German investment group acquired it.

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According to a press release, “after a rigorous selection process, a joint Hanover-Hamburg investment group with strong music industry ties has secured the acquisition of SPV GmbH and all related brands and labels, as well as its complete catalogue consisting of over 1,600 album titles. This development paves the way forward to the continuation of SPV as a global music business player.

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“The new owners’ concept will incorporate the stabilization of SPV’s traditionally rock roots (Motörhead, Kamelot, Sodom, Magnum, etc.). A strong emphasis will be placed on real artists and real bands — from singer-songwriters to hip-hop — raising the company’s profile and developing new income streams within the music and entertainment business.”

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The company plans to relocate to the Peppermint Pavilion ExpoPark, Hanover, under the managing directorship of Errol Rennalls.

SPV had declared itself insolvent in 2009 and after a “substantial resizing” of its business and a partnership venture agreement with Sony Music Entertainment, which obtained the rights for some of the label’s main artists and part of its catalog, SPV became operational again with a new staff at the end of 2009 and management continuing production and distribution.

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