BMG Buys Out US Hard Rock Label For Millions

In the UK label's fourth significant buyout in the past year, BMG has bought out Portland, Oregon-based hard rock and metal label, Rise Records.

Home to Canberra's Hands Like Houses as well as North American heavyweights like The Devil Wears Prada, Man Overboard, Of Mice & Men and Silverstein, the multi-million dollar deal will see the label's founder Craig Ericson running the company as normal from Oregon.

Ericson told Music Business Worldwide that he is "thrilled to work with BMG and I know Rise Records and its bands will benefit greatly from this partnership".

BMG's recent music acquisitions have labeled them as the UK's fifth biggest record company, as of Q1 2015. 

The partnership will serve to be mutually beneficial, as Rise will benefit from BMG's rock/metal experience, boasting a catalogue of recordings from Megadeth, Iron Maiden and Black Sabbath, while BMG will enjoy Rise Records' huge online media following, including their 1.4 million YouTube subscribers.

Lauren Hubert, BMG Chrysalis US' President of Creative & Marketing, said Rise Records "is a cultural phenomenon which has harnessed digital media to create a genuine community".