UMG’s Downtown Deal Sparks Forceful Memos From Virgin CEOs, Hundreds of Indie Music Execs
When the Universal Music Group announced in December that its Virgin Music Group subsidiary was acquiring indie label services company Downtown Music in a $775 million transaction, it ended months of speculation about the future of Downtown — which is comprised of FUGA, CD Baby, Songtrust and more — as its longtime financial backer looked […]
