Warner Music Group Fully Acquires Roadrunner Records
Warner Music Group has fully acquired Roadrunner Records after first buying 73.5% of the company in January 2007.
Roadrunner will continue to operate as a distinct brand within WMG, according to sources. Cees Wessels, the label's founder, remains CEO.
According to a source, there will be staffing changes, mainly at Roadrunner's corporate head office in the Netherlands, with a number of support and administrative functions being handled by Warner Music going forward.
In an internal memo to staff, Wessels wrote:
“Since joining the Warner Music family, we have enjoyed some of our greatest creative and commercial successes as a label. Most importantly, we have retained our unique identity while also expanding our horizons, thanks in part to the tremendous expertise and experience we can tap into as part of the Warner Music family and the relationships we have built with our Warner Music colleagues around the world. I am very proud that Roadrunner is now a fully-fledged stable mate of such iconic labels as Atlantic , Warner Bros. Records, Elektra, Asylum and Rhino, and I believe that we are in this position thanks to our team’s hard work and consistently original approach over the years. The vast majority of our staff around the world will experience little or no change to their roles. However after carefully reviewing our operations, we have decided to transfer the support functions across to our Warner Music colleagues in some territories. This is not an easy process to undertake, but we believe that, by making these changes, we can take Roadrunner to the next level by focusing our resources on marketing our existing line-up of acclaimed artists as well as discovering the stars of tomorrow”.
Roadrunner's overall albums market share through Nov. 7 (which includes catalog) is 0.85%. Current album market share is 0.91%. Initially founded in the Netherlands in 1980, Roadrunner's roster includes Nickelback, Slipknot, Lynyrd Skynyrd, Dream Theater, Kenny Wayne Shepherd, Collective Soul, DragonForce, Korn and others.