Major record label sells outmain
Le Monde reports this morning that Harmonia Mundi is in the process of being sold.
The new owners will be a Belgian independent, Pias, founded in 1983 by Kenny Gates and Michel Lambot and sharing some of HM’s core values. Pias owns and distributes a host of small labels. The two companies are in talks and have agreed to strike a deal by October 1.
HM, founded by Bernard Coutaz in Paris in 1958, is run by his widow, Eva. It has driven the early music bandwaggons of William Christie, Philippe Herreweghe, René Jacobs and many more. Last reported annual turnover was in the region of $40 million, which makes it probably the biggest non-corporate classical group.
Sic transit Harmonia Mundi.